(RTTNews) – Asian stock markets are mixed on Tuesday, following the mixed cues overnight from Wall Street as traders await the Federal Reserve’s monetary policy announcement and Chairman Jerome Powell’s comments on the economy. They also await cues from the central bank meeting in Japan. Asian stocks ended mixed on Monday.
Traders also continue to be cautious amid the surge in coronavirus cases in the region, mainly in India and Japan, and the possible lockdowns in several markets, impacting the pace of global economic recovery from the pandemic.
The Australian stock market is modestly lower on Tuesday, extending the losses of the previous session, with the benchmark S&P/ASX 200 staying above the 7,000 mark near 14-month highs, following the mixed cues overnight from Wall Street. Stocks across all sectors are generally trading weak.
The benchmark S&P/ASX 200 Index is losing 28.10 points or 0.40 percent to 7,017.50, after hitting a low of 7,005.90 earlier. The broader All Ordinaries Index is down 27.40 points or 0.38 percent to 7,280.40. Australian markets ended modestly lower on Monday.
Among the major miners, BHP Group, Rio Tinto and Fortescue Metals are gaining almost 1 percent each, while OZ Minerals is up more than 1 percent.
Among oil stocks are mostly lower as crude oil prices slid. Oil Search and Woodside Petroleum are edging down 0.2 percent each, while Santos is edging up 0.2 percent. Origin Energy is losing more than 1 percent.
Among the big four banks, Commonwealth Bank, Westpac and National Australia Bank are edging down 0.4 percent each, while ANZ Banking is flat.
Among tech stocks, Afterpay and WiseTech Global are edging down 0.3 percent each, while Appen is losing more than 1 percent.
Gold miners are mixed, with Newcrest Mining losing more than 1 percent and Northern Star Resources down almost 1 percent, while Evolution Mining is gaining almost 1 percent.
In other news, BlueScope steel increased its earnings guidance for the second half by up to 30 percent based on soaring steel prices across Asia and in the United States. The stock is up almost 2 percent.