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 $77.02 a barrel and Brent at $81.07 a barrel.
Japan’s Nikkei 225 was 0.28% lower, while the broad-based Topix was up 0.17%, the only major index in positive territory.
South Korea’s Kospi fell 0.48%, while the small cap Kosdaq saw a loss of 0.45%.
Australia’s S&P/ASX 200 reversed gains to fall marginally, down 0.1%. The index is close to breaching its all time closing high of 8,114.7, set on Aug. 1.
Hong Kong Hang Seng index tumbled 0.8%, while the mainland Chinese CSI 300 slipped 0.28%.
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 Alex Harring contributed to this report.
