CANBERA (dpa-AFX) - Asian stocks ended mixed in cautious trade on Wednesday as caution prevailed ahead of big U.S. tech earnings, the Fed and BoJ rate decisions, and the August 1 tariff deadline. Upcoming U.S. inflation and jobs data also remained on investors' radar.
U.S. and Chinese officials concluded two days of talks in Stockholm, but there was no agreement on tariff truce extension. U.S. officials said President Trump will decide whether to extend truce.
Treasuries held steady in Asian trading after climbing the most in a month in the previous session.
Copper and gold edged up as the dollar weakened after hitting a more than one-month high on Tuesday.
Oil held its biggest gain in six weeks as Trump reiterated that further levies on Russia remained on the table without a Ukraine truce.
China's Shanghai Composite index ended up 0.17 percent at 3,615.72 after hitting a six-month high earlier on eased concerns over U.S. tariff threats.
Hong Kong's Hang Seng index fell 1.36 percent to 25,176.93 on concerns about Chinese growth in the second half of the year.
The International Monetary Fund on Tuesday raised its global growth forecasts for 2025 and 2026 slightly, but warned of major risks including higher tariff rates, geopolitical tensions and larger fiscal deficits.
Japanese markets fluctuated before ending on a flat note after a powerful 8.7 magnitude earthquake struck off Russia's Kamchatka Peninsula, triggering a tsunami that sent waves crashing into coastal areas and prompting alerts across the Pacific.
The Nikkei average finished marginally lower at 40,654.70 ahead of the Bank of Japan's interest-rate decision on Thursday, with no change in interest rates expected. The broader Topix index settled 0.40 percent higher at 2,920.18.
ANA Holdings tumbled 4.1 percent and Advantest dropped 1.1 percent after announcing their earnings results while Sumitomo Pharma surged 16.3 percent after a rating upgrade by JPMorgan.
Seoul stocks extended gains for a sixth consecutive session as investors waited for a trade deal between Seoul and Washington.
The Kospi average closed up 0.74 percent at 3,254.47, with technology stocks and automakers pacing the gainers.
Australian markets rose notably after headline inflation rate in the second quarter of the year slipped to its lowest point since March 2021, supporting the case for a rate cut.
The benchmark S&P/ASX 200 climbed 0.60 percent to 8,756.40, reaching a record high led by rate-sensitive banks and real estate stocks.
Across the Tasman, New Zealand's benchmark S&P/NZX 50 index fell 0.62 percent to 12,855.97, snapping a four-day winning streak.
Overnight, U.S. stocks ended slightly lower after weak earnings from the likes of UnitedHealth, Boeing, Merck and UPS.
Economic reports painted a mixed picture, with consumer confidence rising modestly in July while job openings and hiring decreased in June.
The Dow shed half a percent, the tech-heavy Nasdaq Composite gave up 0.4 percent and the S&P 500 eased 0.3 percent to snap a six-day rally.
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