Asia-Pacific markets showed a mixed performance on Tuesday, with a recent rally in South Korean equities coming to a halt as investors across the region traded cautiously in the absence of major local catalysts.
A positive session for the US technology sector provided a solid lead for the region, but gains were limited, with Australian shares falling ahead of a key central bank decision and Indian benchmarks opening flat.
South Korea’s rally hits a pause
After a remarkable run, South Korea’s benchmark Kospi index fell 1.29%, snapping a four-session winning streak.
The decline marks a moment of consolidation for the market, which has gained in 12 of the past 15 sessions and hit multiple fresh highs this month, driven by global AI tailwinds and optimism around local corporate governance reforms. In contrast, the small-cap Kosdaq managed to climb 0.24%.
US tech provides a positive backdrop
The cautious mood in Asia came despite a strong overnight session for US tech stocks.
The Nasdaq Composite advanced 0.46%, buoyed by a 4% jump in Amazon shares following a $38 billion deal with OpenAI.
Nvidia also gained about 2% after securing export licenses to ship its advanced chips to the United Arab Emirates, signaling continued strong demand for its AI hardware.
Australia and China tread carefully
In Australia, the S&P/ASX 200 fell 0.7% as investors awaited the conclusion of the Reserve Bank of Australia’s monetary policy meeting.
Elsewhere, Japanese markets saw modest gains, with the Nikkei 225 rising 0.25%.
In China, the market was subdued, with the mainland CSI 300 trading flat while Hong Kong’s Hang Seng index edged 0.23% higher.
Indian markets consolidate near highs
India’s equity benchmarks, the Nifty 50 and Sensex, began the session on a muted note, hovering between small gains and losses.
According to experts, the market’s recent push toward a record peak may be stalling as investors turn cautious amid uncertainty over the US Fed’s stance on a December rate cut, the status of US–India trade talks, and a mixed second-quarter earnings season.
At 9:15 a.m., the Sensex was up a marginal 0.03% at 84,003.12, while the Nifty was up 0.02% at 25,768.55.
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