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Asian stocks mixed after gains on Wall Street


Nikkei 225 gained 1.1% to 40,062.42, S&P/ASX 200 declined 0.4% to 7,719.30, Kospi slid 0.9% to 2,778.32, the Hang Seng jumped 0.6% to 17,819.50, the Shanghai Composite index was almost unchanged at 2,995.78, Taiex added 0.6%, while the SET was down 0.6%

Asian stocks were mixed Tuesday after stocks advanced on Wall Street and yields climbed in the U.S. bond market as election-related issues swayed markets globally.

U.S. futures dropped and oil prices gained. The Japanese yen dropped to near a new 38-year low, touching 161.66 yen to the dollar early Tuesday.

Tokyo’s benchmark Nikkei 225 gained 1.1% to 40,062.42, as the weaker yen spurred buying of export-oriented shares.

Australia’s S&P/ASX 200 declined 0.4% to 7,719.30. South Korea’s Kospi slid 0.9% to 2,778.32 despite data from Statistics Korea showing the country’s consumer inflation slowed to an 11-month low in June.

Hong Kong’s market was higher after a holiday break on Monday. The Hang Seng jumped 0.6% to 17,819.50 and the Shanghai Composite index was almost unchanged at 2,995.78.

Elsewhere, Taiwan’s Taiex added 0.6%, while the SET in Bangkok was down 0.6%.

On Friday, the S&P 500 added 0.3% to 5,475.09. The Dow Jones Industrial Average (DJIA) rose 0.1% to 39,169.52, and the Nasdaq composite added 0.8% to 17,879.30.

Some of the world’s strongest action was seen in Europe, where the CAC 40 index in Paris climbed 2.8% before settling to a gain of 1.1%. Results from France indicated a far-right political party may not win a decisive majority in the country’s legislative elections. That bolstered hopes for potential gridlock in the French government, which would prevent a worst-case scenario where a far-right with a clear majority could push policies that would greatly increase the French government’s debt.

This is a big year for elections worldwide, with voters heading to the polls in the UK later this week and soon elsewhere. In the US, pollsters are measuring the fallout from last week’s debate between President Joe Biden and former President Donald Trump.

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