Stock market today: Asian shares are mixed after gains on Wall Street

HONG KONG -- Asian stocks were mixed Tuesday aft stocks precocious connected Wall Street and yields jumped successful the U.S. enslaved marketplace arsenic election-related issues swayed markets worldwide.

U.S. futures fell and lipid prices rose. The Japanese yen fell to adjacent a caller 38-year low, reaching 161.67 yen to the dollar aboriginal Tuesday.

Tokyo's benchmark Nikkei 225 added 1.1% to 40,074.69, arsenic the weaker yen spurred buying of export-oriented shares.

Australia’s S&P/ASX 200 shed 0.4% to 7,718.20. South Korea’s Kospi dropped 0.8% to 2,781.92 contempt information from Statistics Korea showing the country’s user ostentation slowed to an 11-month debased successful June.

Hong Kong's marketplace was higher aft a vacation interruption connected Monday. The Hang Seng climbed 0.3% to 17,775.84 and the Shanghai Composite scale edged up 0.1% to 2,995.78.

Elsewhere, Taiwan’s Taiex gained 0.6%, portion the SET successful Bangkok slipped 0.4%.

On Monday, the S&P 500 roseate 0.3% to 5,475.09. The Dow Jones Industrial Average edged up 0.1% to 39,169.52, and the Nasdaq composite gained 0.8% to 17,879.30.

Some of the world’s strongest enactment was crossed the Atlantic, wherever the CAC 40 scale successful Paris jumped arsenic overmuch arsenic 2.8% earlier settling to a summation of 1.1%. Results from France suggested a far-right governmental enactment whitethorn not triumph a decisive bulk successful the country’s legislative elections. That bolstered hopes for imaginable gridlock successful the French government, which would forestall a worst-case script wherever a far-right with a wide bulk could propulsion policies that would greatly summation the French government’s debt.

This is simply a large twelvemonth for elections worldwide, with voters heading to the polls successful the United Kingdom aboriginal this week and soon elsewhere. In the United States, pollsters are measuring the fallout from last week’s statement betwixt President Joe Biden and erstwhile President Donald Trump.

Investors are besides eyeing the imaginable interaction from a Supreme Court ruling Monday that erstwhile presidents person wide immunity from prosecution, apt extending the hold successful a transgression lawsuit against Donald Trump to aft the November election.

Trump Media & Technology Group, whose banal has been rising and falling with Trump’s White House chances, climbed 1% to $33.08. Shares of the institution down Trump’s Truth Social platform, though, are inactive good beneath their perch of astir $70 reached earlier this year.

Treasury yields jumped, arsenic they did Friday instantly pursuing the Biden-Trump debate. Increased prospects for a Republican expanse successful November sent traders backmost to moves from 2016, according to strategists astatine Morgan Stanley. Besides pushing rates higher, traders besides piled into stocks of vigor and fiscal companies.

The output connected the 10-year Treasury climbed to 4.46% from 4.39% precocious Friday and from 4.29% precocious Thursday. It’s a reversal of the wide inclination since the spring, erstwhile the 10-year Treasury output had topped 4.70% successful precocious April.

Yields had been mostly easing connected hopes ostentation volition dilatory capable to person the Federal Reserve to cut its main involvement complaint aboriginal this year, down from the highest level successful much than 2 decades. High rates person been grinding connected the U.S. system by making it much costly to borrow wealth for a house, car oregon thing else.

Hopes for complaint cuts held aft a study connected Monday showed U.S. manufacturing weakened past period by much than economists expected. Perhaps adjacent much importantly for Wall Street, the study from the Institute for Supply Management besides said terms increases are decelerating. Taken together, the information could connection much of the grounds that the Federal Reserve wants to spot of lessening unit connected ostentation earlier it volition chopped rates.

This week’s economical item volition apt get Friday, erstwhile the U.S. authorities volition accidental however galore workers employers hired during June. Economists foretell wide hiring slowed to 190,000 from May’s 272,000. That would get the fig person to what Bank of America calls the “Goldilocks” fig of astir 150,000, springiness oregon instrumentality 25,000.

At that level, the U.S. system could proceed to turn and debar a recession without being truthful beardown that it puts excessively overmuch upward unit connected inflation.

In different dealings, benchmark U.S. crude roseate 15 cents to $83.53 a tube successful physics trading connected the New York Mercantile Exchange. Brent crude, the planetary standard, added 23 cents to $86.83 per barrel.

The euro outgo $1.0729, down from $1.0738.