CANBERA (dpa-AFX) - Asian stock markets are trading mostly higher on Tuesday, following the mixed cues from Wall Street overnight, amid optimism of a truce in the conflict between Russia and Ukraine with US President Donald Trump planning a summit meeting between Russian President Vladimir Putin and Ukrainian President Volodymyr Zelenskiy very soon. Asian markets closed mostly higher on Monday.
Globally, investors are monitoring the developments of the meeting, as any progress in talks could end the war and streamline global trade which is already affected by new US tariffs.
The Australian stock market is trading notably lower on Tuesday, extending the losses in the previous session, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling to near the 8,900 level, with weakness in mining and energy stocks partially offset by gains in financial stocks.
The benchmark S&P/ASX 200 Index is losing 52.00 points or 0.58 percent to 8,907.30, after hitting a low of 8,893.50 earlier. The broader All Ordinaries Index is down 49.80 points or 0.54 percent to 9,183.70. Australian stocks closed modestly lower on Monday.
Among the major miners, BHP Group is gaining more than 1 percent. Mineral Resources is losing almost 1 percent, while Rio Tinto and Fortescue are edging down 0.2 percent each.
Oil stocks are mostly lower. Woodside Energy is down almost 2 percent, Beach energy is losing almost 1 percent and Santos is declining more than 3 percent, while Origin Energy is flat.
Among tech stocks, Afterpay owner Block and Xero are advancing almost 2 percent each, while WiseTech Global is losing almost 1 percent and Appen is edging down 0.3 percent. Zip is flat.
Gold miners are mostly lower. Gold Road Resources and Evolution Mining are edging down 0.4 percent each, while Newmont and Northern Star resources are losing almost 1 percent each. Resolute Mining is gaining almost 1 percent.
Among the big four banks, National Australia Bank is gaining more than 1 percent, while Commonwealth Bank, ANZ Banking and Westpac are edging up 0.2 to 0.5 percent each.
In economic news, Australia's Westpac-Melbourne Institute Consumer Sentiment Index jumped 5.7 percent month-over-month in August 2025 to the highest level since February 2022 of 98.5, accelerating from 0.6 percent in July.
In the currency market, the Aussie dollar is trading at $0.649 on Tuesday.
The Japanese stock market is trading slightly lower in choppy trading on Tuesday after opening in the green, reversing some of the gains in the previous two sessions, following the mixed cues from Wall Street overnight, with the Nikkei 225 falling below the 43,700 level, with weakness in index heavyweights and financial stocks partially offset by gains in automakers and exporters.
The benchmark Nikkei 225 Index closed the morning session at 43,652.32, down 61.99 points or 0.14 percent, after touching a high of 43,876.42 and a low of 43,411.97 earlier. Japanese shares ended significantly higher on Monday.
Market heavyweight SoftBank Group is losing almost 4 percent and Uniqlo operator Fast Retailing is down almost 1 percent. Among automakers, Honda is edging up 0.5 percent and Toyota is gaining more than 1 percent.
In the tech space, Screen Holdings is gaining more than 3 percent, while Advantest is edging down 0.5 percent and Tokyo Electron is losing almost 2 percent.
In the banking sector, Mitsubishi UFJ Financial is declining almost 3 percent, while Mizuho Financial and Sumitomo Mitsui Financial are losing more than 1 percent each.
The major exporters are mostly higher. Mitsubishi Electric is adding more than 2 percent and Panasonic is edging up 0.1 percent. Canon and Sony are flat.
Among the other major losers, IHI and Fujikura are losing more than 4 percent each, while Resona Holdings is down almost 4 percent. Nintendo, Japan Steel Works, Kawasaki Heavy Industries and BayCurrent are declining more than 3 percent each, while Konami Group, Concordia Financial, Furukawa Electric, Ebara and BANDAI NAMCO are slipping almost 3 percent each.
Conversely, Daiichi Sankyo is gaining more than 4 percent, while Tokyo Tatemono and Credit Saison are adding more than 3 percent each.
In the currency market, the U.S. dollar is trading in the higher 147 yen-range on Tuesday.
Elsewhere in Asia, New Zealand, China, South Korea and Taiwan are higher by between 0.1 and 0.5 percent each. Singapore and Indonesia are up 0.1 and 0.3 percent, respectively. Hong Kong and Malaysia are relatively flat.
On Wall Street, stocks showed a lack of direction over the course of the trading session on Monday following back-to-back positive weeks. The major averages spent the day bouncing back and forth across the unchanged line before eventually closing little changed.
While the tech-heavy Nasdaq inched up 6.80 points or less than a tenth of a percent to 21,629.77, the S&P 500 edged down 0.65 points or less than a tenth of a percent to 6,449.15 and the Dow slipped 34.30 points or 0.1 percent to 44,911.82.
The major European markets also ended the day mixed. While the U.K.'s FTSE 100 Index rose by 0.2 percent, the German DAX Index dipped by 0.2 percent and the French CAC 40 Index declined by 0.5 percent.
Crude oil prices climbed on Monday as investors focused their attention on the meeting between the U.S. and Ukrainian presidents amid rising geopolitical tensions surrounding the Russian invasion of Ukraine. West Texas Intermediate crude for September delivery was up $0.60 or 0.96 percent at $63.40 per barrel.
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