Asian Markets Today: Asian markets traded mixed on Tuesday, with Japanese equities edging higher while Australian and South Korean markets remained under pressure. The Nikkei 225 rose 0.22%, while the ASX 200 fell 0.48%, the Kospi declined 0.18% and the NZX 50 slipped 0.1%.
Asian Markets Today
The mixed trend across Asian equities came after Wall Street closed lower in the previous session, with investors weighing renewed concerns over the pace of artificial intelligence development, elevated Treasury yields and rising crude oil prices.
The S&P 500 fell 0.48% to 7,619.98 on Monday, while the Nasdaq Composite declined 0.56% to 26,186.41. The Dow Jones Industrial Average shed 152.09 points, or 0.29%, to end at 52,421.20.
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AI Stocks In Focus
Global technology and AI-linked stocks came under pressure after Anthropic CEO Dario Amodei called for a slowdown in the development of increasingly capable AI models, citing safety concerns.
The comments weighed on major US AI stocks. Nvidia fell 3%, while Broadcom and Advanced Micro Devices declined more than 4%. Intel dropped more than 5%, while Marvell Technology slid more than 7%.
OpenAI CEO Sam Altman also said an IPO this year would be “ill-advised”, adding another layer of uncertainty around the sector.
Oil Prices Remain Elevated
Oil prices remained a key concern for investors after Saudi Arabia shut a major pipeline that bypasses the Strait of Hormuz.
Last checked, Brent crude rose 0.82% to $107.07 a barrel, keeping energy prices elevated and raising concerns over the potential inflationary impact on the global economy.
Fed Decision Ahead
Investors are also awaiting the Federal Reserve's September policy decision this week (September 16).
Treasury yields surged on Monday, with the 10-year US Treasury yield touching its highest level since October 2023 before paring gains.
The 10-year yield was last up slightly at around 4.987%, keeping pressure on rate-sensitive assets as markets assess the Fed's next policy move.
What To Watch Today
For Asian markets, investors will track movements in US technology stocks, crude oil prices and Treasury yields, while keeping an eye on the Federal Reserve's policy signals.
Elevated oil prices could add to inflation concerns, while further weakness in AI stocks may weigh on technology-heavy markets.
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