Japan's Nikkei Stock Average rose 0.1%, Australia's S&P/ASX 200 climbed 0.6%, South Korea's Kospi Composite added 0.4% and New Zealand's NZX-50 fell 0.2%.
Dow Jones Industrial Average futures were down 16 points in screen trade.
"The current situation is similar to early last week before the passage of the Greek bailout package. Investors are taking a wait-and-see stance before a likely solution (to the U.S. debt-ceiling issue)," said SHK Financial analysts Daniel So.
In Tokyo favorable earnings results helped to buoy the market, outweighing concerns over the firmer yen and uncertainty over the U.S. debt ceiling debate.
"While we continue to keep our eyes on developments in Greece and the United States, corporate earnings are also becoming a key theme for the markets," said Masayoshi Yano, a senior market analyst at Meiwa Securities.
Canon rose 2.8% after lifting its full-year outlook Monday, while Kao climbed 4.8% after reporting better-than-expected first quarter earnings.
Shares in Sydney were higher amid a broad-based recovery from Monday's sell-off.
Banking and financial stocks were higher after underperforming on Monday; Australia & New Zealand Bank rose 1.0% and Commonwealth Bank of Australia climbed 1.4%.
Whitehaven Coal rose 1.1% after reporting a 47% on-year rise in June-quarter salable production.
In foreign exchange markets the euro and the yen rose against the U.S. dollar after U.S. President Obama's speech on the U.S. debt ceiling negotiations.
"As the August 2 deadline approaches the dollar is likely to come under pressure due to both the near-term uncertainty of a potential default and the combination of the longer-term impacts of fiscal austerity and loose monetary policy, which as a policy mix generally lead to currency weakness," Brown Brothers Harriman said in a note to clients. "Our base case scenario is that the game of brinkmanship continues and that U.S. policy makers come to an agreement at the 11th hour."
In a nationwide speech U.S. President Obama said the deficit could do "serious damage" to the economy, and added that not raising the debt ceiling would lead to default, which would be reckless and irresponsible. Obama said that he wants a compromise on the debt issue in the next few days.
The single currency was at $1.4391 against the dollar, from $1.4377 late Monday in New York, and at ¥112.45 against the yen, from ¥112.37. The dollar was at ¥78.07, from ¥78.27.
September Japanese government bond futures were flat at 141.55 points.
Spot gold was at $1,611.70 per troy ounce, down $3.10 from its New York settlement on Monday. September Nymex crude oil futures were down 9 cents at $99.11 per barrel on Globex.
Related Post:
Asian Stocks
- asian stock market ahead of a ECB policy decision february 7 2013
- Asian stocks opened mixed january 28 2013
- IMF said asian economic growth forecast 2013
- asian stock markets drop november 6 2012
- impact Hurricane Sandy on stock market
- Why Asian stock markets down october 24 2012
- asian stock markets october 23 2013
- Asian stock markets down october 22 2012
- Asian stock markets october 5 2012
- Asian stock markets october 3 2012
No comments:
Post a Comment