Sun, 09 May 2021

SYDNEY, NSW, Australia - Stocks across Asia were mixed on Tuesday, with a positive bias although moves in either direction were modest.

"The market is mainly in a holding pattern in anticipation of the U.S. inflation data coming tonight and it may be a catalyst for some direction," Mathan Somasundaram, CEO at Deep Data Analytics told Reuters Thomson Tuesday.

"Trading turnover has been relatively low as the market awaits the U.S. Fed's comment on the inflation number to see if it is too far out of their comfort zone or not, so the next 24-48 hours are crucial."

The Australian All Ordinaries finished not much better than flat, rising 5.84 points or 0.08 percent to 7,231.00.

China's Shanghai Composite dipped 16.48 points or 0.48 percent to 3,396.47.

In Hong Kong, the Hang Seng added 23.48 points or 0.08 percent to 28,476.76.

The Nikkei 225 in Japan did best, rising 212.88 points or 0.72 percent to 29,751.61.

The U.S. dollar was mixed on foreign exchange markets Tuesday in Asia. Around the Sydney close the euro was lifeless at 1.1906. The British pound was little changed at 1.3758, as was the Swiss franc at 0.9241. The Japanese yen edged higher to 109.31.

The Canadian dollar traded in a tight range around 1.2579. The Australian dollar inched down to 0.7610. The New Zealand dollar was unmoved.

Overnight on Wall Street, the Dow Jones industrials finished the day down 52.20 points or 0.66 percent at 33,745.40.

The Standard and Poor's 500 ended flat, dropping 0.81 of a point or 0.02 percent to 4,127.99.

The Nasdaq Composite shed 50.19 points or 0.36 percent to 13,850.00.

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