An aerial photo is showing containers at Beilun Port in Ningbo, Zhejiang province, China, on April 11, 2024.
Nurphoto | Nurphoto | Getty Images
Asia-Pacific markets largely fell on Tuesday, despite the Dow Jones Industrial Average on Wall Street reaching new highs.
The blue-chip index closed up 65.44 points, or 0.16%, at 41,240.52.
Traders in Asia will also look toward China’s year-to-date industrial profits as of July.
Late Monday, oil prices continued to rise after Israel and Hezbollah traded strikes over the weekend, with U.S. West Texas Intermediate crude climbing 3.5% to close at $77.42 per barrel and Brent crude up 3.05% at $81.43 a barrel, its highest in about two weeks.
Oil prices later pared some gains on Tuesday, with WTI futures trading at $77.16 and Brent at $81.23.
Japan’s Nikkei 225 was 0.35% lower, while the broad-based Topix was flat.
South Korea’s Kospi fell 0.42%, while the small cap Kosdaq saw a larger loss of 1.14%.
Australia’s S&P/ASX 200 was up 0.13%, the only major Asia-Pacific index in positive territory. The index is close to breaching its all time closing high of 8,114.7, set on Aug. 1.
Hong Kong Hang Seng index futures were at 17,694, lower than the HSI’s last close of 17,798.73.
Despite the Dow’s gains overnight in the U.S., the S&P 500 and Nasdaq Composite both fell, losing 0.32% and 0.85% respectively.
—CNBC’s Lisa Kailai Han and Sarah Min contributed to this report.
