Sydney Building taken from Cremorne Point.
Brook Attakorn | Moments | Getty Images
Asia-Pacific markets opened higher on Tuesday, following gains on Wall Street that led to S&P 500 Index and the Nasdaq Composite closed at a record high overnight.
Japan Nikkei 225 up 1%, while the Topix edged up 0.27%.
South Korea Kospi rose 0.3% as Samsung Electronics shares rose 0.57%, even as the company’s largest union continued a three-day strike to demand better wages. Elsewhere, Hyundai reached a temporary wage deal with its union, averting a strike. Hyundai shares fell 1.59%.
Hong Kong’s Hang Seng index futures were at 17,534, higher than the HSI’s last close of 17,524.06.
Chinese electric vehicle giant BYD will invest $1 billion in Turkey to open a factory with an annual capacity of 150,000 vehicles, Turkish industry and technology minister Mehmet Fatih Kacir said on Monday.
“The facility, which is planned to start production at the end of 2026, will immediately absorb up to 5,000 workers,” he said on the social media platform X. Last week, the European Union raised import tariffs on electric vehicles from China.
Australia’s S&P/ASX 200 Index rose 0.65%, despite the country’s consumer sentiment falling to -1.1% in July from 1.7% in the previous month. Traders in Asia will also be looking ahead to Australian business confidence data due later in the day.
Investors are also looking ahead to the release of the U.S. consumer price index on Thursday for clues on the Federal Reserve’s interest rate decision. Meanwhile, Chinese inflation data on Wednesday will provide insight into the state of the country’s economic recovery.
Overnight in the US, the S&P 500 and Nasdaq closed at record highs. Earnings from several financial giants and consumer staples are also on traders’ watchlists this week.
—CNBC contributors Brian Evans and Pia Singh
