Asian Markets Trade Mixed

(RTTNews) - Asian stock markets are trading mixed on Tuesday, following the broadly positive cues from Wall Street overnight, amid easing crude oil prices on optimism over the resolution of the Middle East conflict following reports that a delegation from Qatar has visited Iran to discuss de-escalation of regional conflicts. Some traders also looked to pick up stocks at relatively reduced levels after the recent slump. Asian markets closed mixed on Monday.

Traders are also looking ahead to the US Federal Reserve's monetary policy announcement on Wednesday, with the central bank widely expected to leave interest rates unchanged.

With a quarter-point rate hike still expected at the Fed's December meeting, traders are likely to keep a close eye on the accompanying statement.

The CME Group's FedWatch Tool shows investors are betting on a 10.50 percent chance of a 25-basis-point interest rate-hike while the odds on rates being held at the current level stand at 89.50 percent.

The Australian stock market is modestly higher on Tuesday, extending the slight gains in the previous two sessions, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 index is moving above the 8,700 level, with gains across most sectors led by mining and financial stocks.

Traders also remain cautious ahead of the release of inflation data tomorrow, which will have an impact on the outlook for interest rates.

The benchmark S&P/ASX 200 Index is gaining 12.10 points or 0.14 percent to 8,722.00, after hitting a low of 8,773.40 earlier. The broader All Ordinaries Index is up 15.80 points or 0.18 percent to 8,942.40. Australian stocks closed slightly higher on Monday.

Among the major miners, Rio Tinto and BHP Group are gaining more than 1 percent each, while Mineral Resources is edging up 0.4 percent. Fortescue is edging down 0.5 percent.

Oil stocks are mostly higher. Beach energy, Woodside Energy and Santos are gaining almost 1 percent each, while Origin Energy is edging down 0.4 percent.

Among tech stocks, Afterpay owner Block is losing more than 2 percent, Xero is declining more than 3 percent and WiseTech Global is down almost 2 percent, while Zip is surging more than 6 percent and Appen is gaining almost 2 percent.

Gold miners are mostly higher. Evolution Mining, Newmont and Northern Star Resources are edging up 0.1 to 0.3 percent each, while Resolute Mining and Genesis Minerals are gaining almost 1 percent each.

Among the big four banks, ANZ Banking is edging down 0.3 percent, while Commonwealth Bank is gaining more than 1 percent, National Australia Bank is adding almost 2 percent and Westpac is up almost 1 percent.

In other news, Shares in Brightstar Resources are tumbling more than 9 percent after announcing a $82 million single-tranche capital raising/placement to fund its Sandstone gold exploration and development program in Western Australia.

Shares in SCX.ai are surging almost 7 percent after the sovereign artificial intelligence inference company was selected as an Australian launch partner in the SpaceX Super Intelligence Partner Network.

Shares in Star Entertainment are soaring almost 22 percent following a positive first-quarter trading update and turnaround report released ahead of its Annual General Meeting.

In the currency market, the Aussie dollar is trading at $0.702 on Tuesday.

The Japanese stock market is trading sharply higher on Tuesday, snapping a three-session losing streak, following the broadly positive cues from Wall Street overnight, with the Nikkei 225 moving well above the 63,350 level, with gains in index heavyweights and technology stocks.

The benchmark Nikkei 225 Index closed the morning session at 63,381.29, up 1,191.64 points or 1.92 percent, after touching a high of 63,684.69 earlier. Japanese shares ended notably lower on Monday.

Market heavyweight SoftBank Group is jumping almost 8 percent, while Uniqlo operator Fast Retailing is edging down 0.3 percent. Among automakers, Honda is losing almost 1 percent and Toyota is edging down 0.5 percent.

In the tech space, Advantest is jumping more than 10 percent, Screen Holdings is surging more than 6 percent and Tokyo Electron is advancing more than 4 percent.

In the banking sector, Mitsubishi UFJ Financial, Sumitomo Mitsui Financial and Mizuho Financial are gaining more than 1 percent each.

The major exporters are mostly lower. Mitsubishi Electric and Sony are losing almost 1 percent each, while Canon is edging down 0.4 percent. Panasonic is gaining more than 3 percent.

Among the other major gainers, Ibiden is soaring almost 11 percent and Kokusai Electric is surging almost 8 percent, while Resonac Holdings and Sumco are jumping almost 7 percent each. Disco, Socionext and Lasertec are advancing almost 6 percent each, while Sumitomo Pharma is gaining more than 5 percent and Renesas Electronics is adding almost 5 percent. Fujikura and Murata Manufacturing are up more than 4 percent each.

Conversely, Daiichi Sankyo is tumbling more than 6 percent, while Mitsubishi Estate and Mitsui Fudosan are declining more than 3 percent each. Central Japan Railway, Sumitomo Realty & Development, Toho, Aeon, Rakuten Group, West Japan Railway and East Japan Railway are losing almost 3 percent each.

In economic news, Japan's Services Producer Price Index rose 3.7 percent on year in September 2026, accelerating from a downwardly revised 3.5 percent in the previous month and matching market expectations. It was the highest reading since June 2024. On a monthly basis, the index increased 0.3 percent, following a downwardly revised 0.1 percent gain in August, marking its third consecutive monthly rise.

In the currency market, the U.S. dollar is trading in the higher 157 yen-range on Tuesday.

Elsewhere in Asia, South Korea is surging 3.9 percent, while Malaysia and Indonesia are up 0.2 and 0.5 percent, respectively. New Zealand, Hong Kong, Singapore and Taiwan are lower by between 0.1 and 0.8 percent each. China is relatively flat.

On Wall Street, stocks moved back to the upside during trading on Monday following the pullback seen over the last two sessions of the previous week. The major averages all moved higher on the day, although the Dow posted a relatively modest gain.

The major averages finished the day off their highs of the session but still in positive territory. The Nasdaq advanced 214.04 points or 0.8 percent to 26,169.38, the S&P 500 climbed 53.09 points or 0.7 percent to 7,676.77 and the Dow rose 146.32 points or 0.3 percent to 52,361.58.

The major European markets all also moved to the upside on the day. The German DAX Index advanced by 0.9 percent, the French CAC 40 Index increased by 0.8 percent and the U.K.'s FTSE 100 Index climbed by 0.7 percent.

Crude oil prices slumped on Monday on reports that a delegation from Qatar has visited Iran to discuss de-escalation of regional conflicts. West Texas Intermediate crude for December delivery was down $1.27 or 1.27 percent at $102.00 per barrel.