Asia-Pacific markets trade mixed as investors assess latest U.S.-Iran signals
Asian markets traded mixed as investors reacted to shifting U.S.-Iran tensions and regional economic developments, with Japan's Nikkei slipping after a record high while South Korea's Kospi hit a new peak. China's Lightelligence saw a massive debut surge, contrasting with losses in Hong Kong and Australia, as higher oil prices weighed on sentiment. Japan's central bank held rates steady but raised inflation forecasts amid supply risks from Middle East tensions. U.S. futures edged up, following record closes for the S&P 500 and Nasdaq, though the Dow dipped slightly.
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Japan's Nikkei 225 declined 0.49% after notching a record high on Monday, while the Topix added 0.23%. South Korea's Kospi rose over 1% to hit a fresh record high while the small-cap Kosdaq declined 0.92%.Japan's central bank kept its policy rate steady at 0.75% on Tuesday, while revising its inflation estimates upwards as the Iran war raises supply-side risks.In Australia, the S&P/ASX 200 lost 0.58%.Hong Kong's Hang Seng index lost 0.48%, while the CSI 300 declined 0.22%.Shares of Chinese optical computing firm Lightelligence surged over 380% on its debut on Tuesday.The company sold 13.8 million shares at HK$183.20 each, raising about HK$2.53 billion ($323 million) in gross proceeds, according to its filing.Shares of Contemporary Amperex Technology fell 7% after the company kicked off a roughly $5 billion share offering in Hong Kong.U.S. futures edged higher, with Dow Jones Industrial Average futures adding 0.12%, or 57 points. S&P 500 futures rose 0.14%, while Nasdaq 100 futures added 0.15%.Overnight in the U.S., the S&P 500 and the Nasdaq Composite rose to new record highs but gains were limited as stalled Iran peace talks and a fresh escalation in the Strait of Hormuz pushed oil prices higher.The broad market index added 0.12% and closed at a record level of 7,173.91. The Nasdaq Composite gained 0.20% and notched a closing record of 24,887.10. Both indexes also reached new all-time highs in the session. The Dow Jones Industrial Average fell 62.92 points, or 0.13%, to settle at 49,167.79.— CNBC's Sean Conlon and Yun Li contributed to this report.
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