An aerial photo shows containers at Beilun Port in Ningbo, Zhejiang Province, China, April 11, 2024.
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Asia-Pacific stocks fell sharply on Tuesday, tracking overnight losses for the S&P 500 and Nasdaq, while investors assessed China’s industrial profit data.
Chinese Industrial profits increased by 3.6% year-on-year from January to July The annual growth rate from January to June was 3.5%.
Hongkong Hang Seng Index Up 0.4% in the last hour, the CSI 300 Index fell 0.57% to close at 3,305.33 points.
Japanese Nikkei 225 Index It rose 0.47% to close at 38,288.62 points, while the Composite Index rose 0.73% to close at 2,680.80 points. The only two major indexes are in positive territory.
Korean Cospi The Kosdaq fell 0.32% to close at 2,689.25 points, and the small-cap Kosdaq fell 0.24% to close at 764.95 points.
Australia’s S&P/ASX 200 index reversed gains and fell 0.16% to close at 8,0845 points. Earlier in the session, the index came close to surpassing its all-time closing high of 8,114.7 points set on August 1.
On Monday night, oil prices continued to rise after Israel and Hezbollah went on strike over the weekend. U.S. West Texas Intermediate crude oil rose 3.5% to close at $77.42 a barrel, and Brent crude oil rose 3.05% to close at $81.43 a barrel, hitting a record of about two dollars. Highest point in weeks.
Oil prices later gave up some of their gains on Tuesday, with WTI futures at $77.02 a barrel and Brent crude futures at $81.07 a barrel.
The US Dow Jones Industrial Average reached a new high overnight, closing up 65.44 points, or 0.16%, at 41,240.52 points. this S&P 500 Index and Nasdaq Index fell 0.32% and 0.85% respectively.
—CNBC’s Lisa Kailai Han and Alex Harring contributed to this report.
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