Sydney Building as seen from Cremorne Point.
Brooke Attacorn | Moment | Getty Images
Asia-Pacific markets opened higher on Tuesday, tracking gains on Wall Street, where the S&P 500 and Nasdaq Composite Indexes had closed at record highs overnight.
Japan’s Nikkei Stock Average rose 1%, while the Topix added 0.27%.
Korea Composite Stock Price Index (KOSPI) rose 0.3%. Shares in major Korean company Samsung Electronics rose 0.57% while the company’s largest labor union continued a three-day strike demanding higher wages. Meanwhile, Hyundai Motor reached a tentative wage agreement with the labor union and avoided a strike. Hyundai Motor shares fell 1.59%.
Hong Kong Hang Seng Index futures were at 17,534, above the HSI’s previous closing price of 17,524.06.
Chinese electric vehicle giant BYD will invest $1 billion in Turkey to open a factory with an annual production capacity of 150,000 vehicles, Turkish Minister of Industry and Technology Mehmet Fatih Kasir said on Monday.
“The facility, which is scheduled to start production at the end of 2026, will directly employ up to 5,000 people,” he said on social media platform X. Last week, the European Union increased tariffs on electric vehicles imported from China.
Australia’s S&P/ASX 200 index rose 0.65 percent, but the country’s consumer confidence index fell 1.1 percent in July after rising 1.7 percent the previous month. Asian traders will also be focusing on Australian business confidence data due for release later in the day.
| Ticker | company | name | price | change | %change |
|---|---|---|---|---|---|
| .N225 | Nikkei Stock Average | Nikkei | 41,082.28 | +301.58 | +0.74% |
| .HSI | Hang Seng Index | HSI | 17,524.06 | united nations | united nations |
| .AXJO | S&P/ASX 200 | ASX 200 | 7,811.80 | +48.60 | +0.63% |
| .SSEC | Shanghai | Shanghai | 2,920.58 | -1.87 | -0.06% |
| .KS11 | KOSPI Index | Korea Composite Stock Price Index | 2,862.21 | +4.45 | +0.16% |
| .FTFCNBCA | CNBC 100 Asia IDX | CNBC 100 | 10,136.73 | +27.92 | +0.28% |
Investors are also keeping an eye on the U.S. consumer price index, due out on Thursday, for clues about the Federal Reserve’s interest rate decision, while Chinese inflation data due out on Wednesday will provide insight into the state of the country’s economic recovery.
Overnight in the US, the S&P 500 and Nasdaq closed at record highs. The performance of large financial and consumer goods companies is also on traders’ watch list this week.
—CNBC’s Brian Evans and Pia Singh contributed to this report.
