Stocks in Asia saw gains in morning trade on Tuesday — despite a tepid finish on Wall Street as geopolitical uncertainty continue to weigh on investors.
Japan’s Nikkei 225 rose 1.01 percent in early trade, while the Topix gained 1.03 percent . South Korea’s Kospi was slightly higher.
The ASX 200 in Australia recovered from its earlier dip to see gains of 0.29 percent in morning trade, as the sectors mostly rose. The heavily weighted financial subindex gained 0.31 percent as shares of the country’s so-called Big Four banks mostly rose.
In overnight markets stateside, the Dow Jones Industrial Average slipped 53.22 points to close at 25,053.11 while the S&P 500 ended its trading day up less than 0.1 percent at 2,709.80. The Nasdaq Composite rose 0.1 percent to close at 7,307.90.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 97.074 after seeing an earlier high of 97.117.
The Japanese yen traded at 110.38 against the dollar, close to earlier lows above 110.4. The Australian dollar was at $0.7062 after slipping from highs above $0.707 yesterday.
The People’s Bank of China (PBOC) set the yuan reference rate at 6.7765 vs Monday’s fix of 6.7495.
Oil prices rose on Tuesday amid OPEC-led supply cuts and U.S. sanctions against Iran and Venezuela, although surging U.S. production and concerns over economic growth kept markets in check.
U.S. West Texas Intermediate (WTI) crude oil futures were at $52.50 per barrel at 0102 GMT, up 9 cents, or 0.2 percent, from their last close.
International Brent crude futures were up 18 cents, or 0.3 percent, at $61.69 per barrel.