Major markets in China, Hong Kong, Singapore, Taiwan, and South Korea remained closed for Lunar New Year celebrations, while U.S. markets were also shut for Presidents’ Day.
-
Web Desk
-
Asian markets opened cautiously on Tuesday amid holiday-related thin trading, with investor sentiment subdued ahead of key geopolitical developments. Major markets in China, Hong Kong, Singapore, Taiwan, and South Korea remained closed for Lunar New Year celebrations, while U.S. markets were also shut for Presidents’ Day.
In Japan, the Nikkei declined by 0.5%, and the broader Topix dropped 0.2% to 3,779.29, reflecting concerns over the country’s softer-than-expected GDP growth, which expanded by just 0.2% in the fourth quarter well below forecasts. The Japanese yen strengthened slightly against the dollar, trading at 153.28 per USD.
Australia’s S&P/ASX200 bucked the cautious trend, rising nearly 0.5%. Bond markets showed a cautious tone as well, with the 10-year U.S. Treasury yield slipping to 4.044%, its lowest since early December, and Japan’s five-year yield falling to 1.65%, its lowest since early February.
Oil prices edged higher amid anticipation of upcoming nuclear talks between the U.S. and Iran in Geneva, scheduled later in the day. Meanwhile, futures markets reflected mixed signals, with Nasdaq futures down slightly by 0.1%, and S&P 500 futures up 0.2%.
The dollar index remained relatively flat at 97.07, after a modest overnight gain, amid subdued trading activity. Overall, investors are cautious as geopolitical tensions and economic data weigh on market sentiment in Asia.
