Global markets today: Nikkei 225, Kospi rise after Wall Street benchmarks hit record high
Japan's markets opened higher on Tuesday following a weekend where the ruling party lost its upper house majority. In early trading, the Nikkei 225 climbed 1.12 per cent to reach 40,254.18 at 9:17 a.m. local time (8:17 p.m. ET Monday), while the broader Topix index rose 0.96 per cent to 2,861.63.
In South Korea, the Kospi edged higher by 0.1 per cent, and the tech-heavy Kosdaq gained 0.7 per cent. Meanwhile, Australia's S&P/ASX 200 index advanced 0.54 per cent.
The S&P 500 and Nasdaq closed at record highs on Monday, driven by gains in Alphabet and other major tech stocks, as investors looked ahead to upcoming earnings reports and hoped that trade agreements might offset the economic impact of global tariffs imposed by the Trump administration.
The S&P 500 rose 0.14 per cent to finish at 6,305.60, while the Nasdaq advanced 0.38 per cent to 20,974.18. In contrast, the Dow Jones Industrial Average slipped slightly, down 0.04 per cent to 44,323.07.
As the August 1 tariff deadline set by U.S. President Donald Trump nears, the S&P 500 has gained around 8 per cent so far this year, reflecting investor optimism that the economic impact of the tariffs will be milder than initially expected.
Investors concerned about the effects of tariff uncertainty on the U.S. economy will closely examine jobless claims data and the July business activity report, both due on Thursday.
Additionally, investors will also closely track Federal Reserve Chair Jerome Powell's speech on Tuesday for insights into the potential timing of interest rate cuts, particularly following last week's mixed inflation indicators.
(With inputs from agencies)
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
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