NEW DELHI (dpa-AFX) - Asian stocks ended mixed on Tuesday as investors monitored the latest developments on the geopolitical front and awaited cues from upcoming U.S. economic readings, including gross domestic product data, PCE inflation figures and minutes from the Federal Reserve's last meeting.
Trading volumes were thin as markets in mainland China, Hong Kong, Singapore, Taiwan and South Korea were closed for the Lunar New Year holidays.
Gold extended losses to dip below $4,900 an ounce, pressured by easing geopolitical tensions ahead of the second round of talks in Geneva between the United States and Iran.
Representatives of Ukraine and Russia will also meet in Geneva today and tomorrow for a fresh round of U.S.-mediated peace talks.
The talks will be held in a trilateral format involving representatives from Russia, the United States and Ukraine.
The dollar strengthened while oil prices fell on oversupply concerns following reports that OPEC+ is considering resuming output hikes in April.
Japanese markets ended lower and the yen fluctuated as soft GDP data released Monday dented sentiment.
Amid speculation over the fiscal and monetary policy path, Bank of Japan Governor Kazuo Ueda said he discussed economic and financial conditions in general with Prime Minister Sanae Takaichi during a regular meeting.
The Nikkei average dipped 0.42 percent to 56,566.49, extending losses for the fourth consecutive session amid expectations that the Bank of Japan will hike interest rates in April. The broader Topix index settled 0.68 percent lower at 3,761.55.
Australian markets eked out modest gains as minutes from the Reserve Bank of Australia's February monetary policy meeting reinforced a tightening bias without committing to May action.
The benchmark S&P/ASX 200 edged up by 0.24 percent to 8,958.90, extending gains from the previous session.
The broader All Ordinaries index settled 0.20 percent higher at 9,182.50. Mining heavyweight BHP Billiton soared 4.7 percent after reporting a jump in half-year net profit.
Across the Tasman, New Zealand's benchmark S&P/NZX-50 index fell 0.66 percent to 13,031.62, extending declines for a third straight session and reaching the lowest level in over four months.
A2 Milk Company shares rallied 6.6 percent. The diary group raised its FY26 revenue growth outlook after delivering strong first-half sales in formula and nutritionals on strong sales momentum in China.
Overnight, U.S. markets were shut in observance of Presidents' Day.
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