CANBERA (dpa-AFX) - Asian stock markets are trading mixed on Tuesday, following the broadly positive cues from Wall Street overnight, amid declining crude oil prices on signs of increasing supply from the Middle East to pre-war levels despite continued risks to shipping. The G7 also pledged to release 100 million barrels of diesel from strategic emergency reserves. Asian markets closed mostly higher on Monday.
Concerns about the outlook for interest rates also eased following last week's release of US inflation and US employment data.
The Australian stock market is notably higher on Tuesday, extending the gains in the previous two sessions, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 index is moving well above the 8,700 level, with gains in mining and technology stocks partially offset by weakness in energy stocks.
The benchmark S&P/ASX 200 Index is gaining 55.20 points or 0.64 percent to 8,741.60, after touching a high of 8,749.40 earlier. The broader All Ordinaries Index is up 51.50 points or 0.58 percent to 8,910.70. Australian stocks closed slightly higher on Monday.
Among the major miners, Rio Tinto and BHP Group are gaining more than 1 percent each, while Mineral Resources is advancing almost 3 percent and Fortescue is adding almost 2 percent.
Oil stocks are mostly lower. Beach energy and Santos are edging down 0.2 to 0.4 percent each, while Woodside Energy is losing almost 1 percent. Origin Energy is gaining more than 1 percent.
Among tech stocks, Afterpay owner Block is gaining more than 3 percent, Xero is adding more than 1 percent and Zip is up almost 1 percent, while WiseTech Global is losing almost 2 percent and Appen is edging down 0.4 percent.
Gold miners are mostly higher. Evolution Mining and Northern Star Resources are gaining almost 1 percent each, while Resolute Mining and Genesis Minerals are advancing almost 2 percent each. Newmont is edging up 0.2 percent.
Among the big four banks, ANZ Banking and Commonwealth Bank are edging down 0.1 percent each, while National Australia Bank is gaining almost 1 percent and Westpac is edging up 0.3 percent.
In economic news, Australia's Westpac-Melbourne Institute Consumer Sentiment Index fell 4.7 percent on month to a six-month low of 80.4 in October 2026, slowing from a 5.2 percent decline in the prior month while marking a second straight month of decline.
Australia's ANZ-Indeed Job Ads rose 2.2 percent on month in September 2026, slowing from a marginally revised 2.6 percent gain in the previous month despite marking the third straight month of expansion.
In the currency market, the Aussie dollar is trading at $0.697 on Tuesday.
The Japanese stock market is trading modestly higher on Tuesday, extending the gains in the previous session, following the broadly positive cues from Wall Street overnight, with the Nikkei 225 moving above the 70,150 level, with gains in automakers, financial stocks.
The benchmark Nikkei 225 Index closed the morning session at 70,081.53, up 134.67 points or 0.19 percent, after touching a high of 70,416.78 earlier. Japanese shares ended sharply higher on Monday.
Market heavyweight SoftBank Group is losing almost 2 percent, while Uniqlo operator Fast Retailing is edging up 0.4 percent. Among automakers, Honda is edging up 0.5 percent and Toyota is gaining almost 1 percent.
In the tech space, Advantest is gaining almost 2 percent and Screen Holdings is adding almost 1 percent, while Tokyo Electron is edging down 0.3 percent.
In the banking sector, Mitsubishi UFJ Financial and Mizuho Financial are gaining more than 1 percent each, while Sumitomo Mitsui Financial is adding almost 1 percent.
The major exporters are mixed. Mitsubishi Electric is losing almost 1 percent and Canon is edging down 0.2 percent, while Sony is gaining almost 1 percent and Panasonic is edging up 0.2 percent.
Among the other major gainers, Mitsui Kinzoku is advancing more than 4 percent, while Isetan Mitsukoshi and Fujikura are gaining more than 3 percent each. Shionogi & Co. is gaining almost 3 percent.
Conversely, there are no other major losers.
In the currency market, the U.S. dollar is trading in the higher 157 yen-range on Tuesday.
Elsewhere in Asia, New Zealand, Hong Kong, Malaysia and Indonesia are higher by between 0.1 and 0.8 percent each, while Singapore, South Korea and Taiwan are lower by between 0.1 and 0.5 percent each. China remains closed for the National Day holiday.
On Wall Street, stocks turned in a strong performance throughout much of the trading session on Monday before giving back some ground going into the end of the day. The tech-heavy Nasdaq showed a strong move to the upside, reaching a new record closing high.
The major averages ended the day off their highs of the session but still in positive territory. The Nasdaq jumped 286.45 points or 1.1 percent to 27,477.31, the S&P 500 advanced 51.23 points or 0.7 percent to 7,773.95 and the Dow rose 90.94 points or 0.2 percent to 51,267.90.
Meanwhile, the major European markets turned in a mixed performance on the day. While the French CAC 40 Index slid by 0.8 percent, the German DAX Index crept up by 0.1 percent and the U.K.'s FTSE 100 Index rose by 0.3 percent.
Crude oil prices moved sharply lower on Monday amid indications that exports from the Middle East are returning to pre-war levels despite the ongoing conflict between the U.S. and Iran. West Texas Intermediate for November delivery sank $1.21 or 1.3 percent to $89.90 a barrel.
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