Asian stocks closed mixed on Tuesday despite strong leads from Wall Street overnight. Traders said that investors were cautious as China's trade relations with the U.S. continued to weigh on sentiment in the region with the Chinese yuan reaching its lowest point against the dollar since last August.
In Australia, the ASX finished the session firmly higher, at a near-10 year peak after the Reserve Bank of Australia announced it would hold its cash rate steady at 1.50 percent, as expected.
European markets closed higher after German Chancellor Angela Merkel reached a compromise with interior minister and the leader of the Christian Social Union (CSU), Horst Seehofer over immigration. The deal will tighten Germany's border with Austria and build border camps for asylum seekers.
Meanwhile, President of the European Council Donald Tusk stated on Tuesday that the 28-member bloc "must get its act together" and prepare for worst-case scenarios when it comes to trade.
On the data front, factory gate inflation in Eurozone jumped to 3% in May year-on-year while
eurozone retail sales remained unchanged in May
Across the Atlantic, U.S. markets closed three hours earlier than normal, ahead of the Fourth of July holiday. They will be closed all day on Wednesday.
Tech shares dropped sharply, while trade concerns remained in focus as tariffs on billions of dollars worth of U.S. and Chinese goods are set to take effect on July 6.
World Markets Headlines Today
India: Sensex, Nifty hold gains; Vedanta, ICICI Bank top losers (LiveMint)
Hong Kong stocks end down but pare early losses (Fin24)
Australia: Banks lead stocks higher (Australian Business Review)
European Shares Seen Up As Merkel Settles Migration Row (RTT News)
European markets edge higher after Germany’s Merkel strikes migration deal (CNBC)
European markets are higher today with shares in Germany leading the region (CNN Money)
U.S. Stocks Fall on Tech Weakness; Oil Rises (Bloomberg)
Stocks Tumble in Holiday-Shortened Session (The Street)
Stocks end holiday-shortened session in the red as tech shares sell off (Marketwatch)
Gold falls for a second day as dollar strength outweighs safe-haven demand
Oil rises as Libya declares force majeure on supplies, but demand slowdown looms (Reuters)
25 Major Markets Stock Indices Closing Data
All Continents Stock Indices Closing Data
Tokyo's Nikkei 225 fell 0.12%. China's Shanghai Composite gained 0.39%. Seoul's KOSPI ticked up 0.05%. Mumbai's Sensex increased 0.32% while Nifty 50 was higher by 0.32%. Australia's ASX200 was up 0.52%. Singapore's STI finished 0.09% in the hole. Jakarta's Composite dropped 1.96% and Taiwan's Weighted Index was off 0.58%.
The Paneuropean STOXX600 rose 0.81%. France's CAC increased 0.76%. London's FTSE was up 0.60%. Belgium's BEL 20 was higher by 0.49%. Amsterdam's AEX grew 0.65%. Moscow's IMOEX fell 0.76%. In Southern Europe, Lisbon's PSI20 ticked down 0.01% while Spain's IBEX 35 grew 1.07% and Italy's FTSE MIB advanced 1.57%. In Scandinavia, Stockholm's OMXS30 was down 0.16% while Copenhagen's OMXC25 increased 0.83%. Helsinki's OMXHPI finished the day 0.42% in the green.
In Central Eastern Europe, Budapest's BUX was up 0.94% while Warsaw's WIG grew 1.38%. Prague's PX advanced 0.52% and Bratislava's SAX was higher by 0.73%. Tallinn's OMXT was lower by 0.02% while Riga's OMXR was up 0.31%. In Vilnius, the OMXV dropped 0.31%.
In South Eastern Europe, Bucharest's BET was down 0.96% while Sofia's Sofix decreased 0.04%. Belgrade's Belex 15 was off 0.26%. Podgorica's MNSE10 decreased 0.06%. while
Sarajevo's SASEX lost 0.10% and Banja Luka's BIRS moved downward 0.48%. Ljubljana's SBI Top dropped 0.46%. Zagreb's CROBEX was down 0.21%.
In Skopje, the MBI10 was up 0.86%. Istanbul's BIST100 was lower by 0.19%. In Athens, the General Index finished the day 0.31% in the hole while in Nicosia rose 0.30%.
Dar Es Salaam's ASI fell 0.65%. Johannesburg's ASI rose 0.58% and Egypt's EGX30 advanced 0.36%. Casablanca's MASI dropped 1.80%.
Nigeria's ASI fell 0.90% while Mauritius' SEMDEX grew 0.98%. Uganda's ASI decreased 0.58% and Zimbabwe's Industrial Index rose 0.19%.
In the U.S., the Dow Jones lost 0.58% while the S&P 500 fell 0.49% and the Nasdaq dropped 0.86%.