Asian markets opened mostly higher on Tuesday, taking the cue from Wall Street’s powerful rally. After two strong months in a row, U.S. stocks ended June with fresh records. That positivity echoed across Asia, pushing major indexes into the green.
But the gains weren’t even across the board. Let’s take a closer look.
Japan’s Nikkei Drops, Despite Good News
In Tokyo, the Nikkei 225 fell 1.2% to 40,003.24. This drop came even though the Bank of Japan’s Tankan survey showed business sentiment had improved more than expected. Investors may be cautious after the recent highs or looking ahead to economic risks.
China’s Markets Inch Up
The Shanghai Composite rose 0.2% to 3,451.69. China’s manufacturing PMI rose to a three-month high of 49.7 in June. The services PMI also went up to 50.5. These numbers are still close to the 50 mark, which separates growth from contraction, but they offer a sign of slow recovery.
Hong Kong’s market was closed for the day.
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South Korea Sees Big Jump
The KOSPI surged 1.5% to 3,117.17. Strong exports in June, especially in semiconductors, ships, and health products, pushed up investor confidence.
According to ING economist Min Joo Kang, electric vehicle exports to the EU also helped, but auto exports to the U.S. may slow down due to new tariffs.
Australia, Philippines Follow the Wave
Australia’s S&P/ASX 200 moved up 0.1% to 8,550.80. In the Philippines, the PSEi gained 0.2%, tracking the general upbeat mood across the region.
What Sparked the Rally?
Wall Street had a strong Monday. The S&P 500 rose 0.5%, the Dow Jones gained 0.6%, and the Nasdaq added 0.5%. This rebound follows a major recovery after a 20% sell-off earlier this year.
The market got a lift after Canada scrapped a tax plan on U.S. tech firms, and trade talks resumed. President Trump had earlier paused talks in protest of the tax, calling it a “blatant attack.”
There’s growing hope that Trump may dial down his tariff threats, which have hurt global trade since 2018. Analysts warn, however, that if U.S. markets keep rising, the risk of new tariffs could return.
Big Movers on Wall Street
- Oracle jumped 4% after reporting strong cloud business growth.
- GMS surged 11.7% on news of a Home Depot buyout.
- Juniper and HPE rallied after DOJ approval for their $14B merger.
- Bank stocks like JPMorgan and Citigroup also climbed after positive Fed reports.
Oil, Currency & Bonds
U.S. crude oil dropped to $64.74 a barrel. Brent crude fell to $66.39.
The U.S. dollar slipped to 143.86 yen, while the euro edged up to $1.1792.
Treasury yields fell as investors wait for Thursday’s jobs report—a key signal for the U.S. economy.
The mood in Asian markets remains cautiously optimistic. As long as global tensions stay calm and trade talks continue, investors are hopeful. But any sudden move—especially from Washington—could change the game quickly.
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