On Tuesday (25 August, 8:25 AM, GMT+7, Bangkok time), major equity indices across the Asia-Pacific region traded in a mixed direction, as market participants weighed the impact of newly implemented U.S. sanctions targeting Iran alongside caution ahead of critical tech earnings and U.S. inflation data due later this week.
Asian stock markets saw divergent movements in early trading. Japan’s NIKKEI dropped 494.67 points, or 0.75%, to 65,033.42. China’s Shanghai Composite remained virtually unchanged, edging down by 0.006 points to 3,882.002, while Hong Kong’s Hang Seng Index traded flat at 25,517.33. Outperforming the regional trend, Australia’s ASX 200 advanced 40.00 points, or 0.44%, to 9,143.10.
Global market sentiment was held in check as stock futures remained flat ahead of Nvidia’s upcoming earnings report and the U.S. personal consumption expenditures (PCE) inflation report, both set to dictate direction for tech valuations and Federal Reserve policy expectations.
Overnight in the United States, Wall Street closed mixed. The Dow Jones Industrial Average rose 140.15 points, or 0.26%, to 53,417.16. However, tech shares dragged the market as the S&P 500 fell 21.51 points, or 0.28%, to 7,652.86, and the tech-heavy NASDAQ declined 200.264 points, or 0.77%, to 25,980.19.
In commodity markets, oil prices struggled for traction following the rollout of global U.S. sanctions focused on Iran. U.S. West Texas Intermediate (WTI) crude ticked up slightly by 11 cents, or 0.13%, to $85.12 per barrel, while Brent crude slipped 2 cents, or 0.02%, to $92.15 per barrel.
Meanwhile, safe-haven assets gained momentum ahead of U.S. inflation prints and the Federal Reserve’s annual Jackson Hole symposium. Gold futures rallied $35.20, or 0.75%, to $4,733.00 per troy ounce, while silver futures advanced $0.746, or 1.09%, to $69.34 per troy ounce.
