HONG KONG- Asia share markets were cautious on Tuesday after US markets weakened as investors anticipated the start of corporate earnings seasons and the release of key inflation data to indicate how the global recovery from the pandemic will emerge.
MSCI’s broadest index of Asia-Pacific shares outside Japan was trading less than 0.1 percent higher early Tuesday.
In Australia, the S&P/ASX200 gained 10 points to 6983.90 early in the session while Japan’s Nikkei rose 0.9 percent. Tech stocks drove the gain in Australian stocks while the country’s major miners showed signs of weakness.
Hong Kong’s Hang Seng Index added 0.6 percent in early trade while the mainland bluechip index CSI300 edged up 0.3 percent ahead of March trade figures due to be published Tuesday.
South Korea’s KOSPI 200 Index .KS200 was 0.5 percent higher.
“Volatility has come off in US markets as we see it trading flat ahead of reporting season,” said James Rosenberg, a Baillieu Holst advisor in Sydney.
“With markets at broadly record levels there’s expectations it’ll be very strong and that certainly does not leave much room for disappointment.”
In the United States, the Dow Jones Industrial Average fell 55.2 points, or 0.16 percent, to 33,745.4, the S&P 500 lost 0.81 points, or 0.02 percent, to 4,127.99 and the Nasdaq Composite dropped 50.19 points, or 0.36 percent, to 13,850.00.
