Asian shares traded with mixed results in a generally subdued session on Tuesday, despite expectations for market movements following the inauguration of U.S. President Donald Trump, reports AP.
While some analysts suggested the inauguration could boost global market optimism, others cautioned that potential tariffs could dampen Asian economies. U.S. markets remained closed on Monday for the Martin Luther King Jr. Day holiday.
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Japan's Nikkei 225 index slipped 0.1% to 38,951.77 during morning trading. Australia's S&P/ASX 200 rose 0.5% to 8,392.80, while South Korea's Kospi dipped 0.2% to 2,514.06.
Concerns regarding Trump's policies towards China have somewhat eased, as both nations expressed commitments to improving relations. Trump refrained from announcing immediate tariff measures on Chinese exports to the U.S.
Hong Kong's Hang Seng index climbed 0.4% to 20,012.25, while the Shanghai Composite fell 0.3% to 3,233.85.
“In a surprising turn that eased global market concerns, President Trump indicated he would not impose new tariffs immediately, contrary to earlier expectations,” remarked Stephen Innes, managing partner at SPI Asset Management.
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Reflecting some market optimism over potential executive actions to stimulate the U.S. economy, U.S. stock market futures edged higher.
In other developments, shares of Fuji Media Holdings—affiliated with prominent Japanese broadcaster Fuji TV—fell during morning trading. The drop followed announcements by several companies, including Toyota Motor Corp., to halt advertising during Fuji TV programmes amidst a sex scandal reported by the weekly magazine Shukan Bunshun.
In energy markets, benchmark U.S. crude slipped $1.14 to $76.74 a barrel, while Brent crude, the international standard, rose 13 cents to $80.28 a barrel.
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Currency trading saw modest moves, with the U.S. dollar weakening slightly amid uncertainty surrounding Trump's tariff plans. The dollar declined to 155.14 Japanese yen from 155.61 yen. The euro traded at $1.0389, down marginally from $1.0419.