Asia-Pacific stocks edge higher; China's June industrial profits data ahead


SINGAPORE — Shares in Asia-Pacific edged higher in Tuesday morning trade after the major indexes on Wall Street notched record closing highs once again.

The Nikkei 225 in Japan gained 0.15% while the Topix index advanced 0.43%. South Korea’s Kospi traded 0.71% higher.

In Australia, the S&P/ASX 200 climbed 0.25%.

MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.16% higher.

Investors will monitor stocks in Hong Kong after their Monday tumble amid regulatory fears in China’s technology and private education sectors.

Geopolitical concerns may also weigh on investor sentiment in the region, after a high-level meeting between U.S. and Chinese officials ended with criticism on both sides.

Looking ahead, China’s industrial profits data for June is set to be out at 9:30 a.m. HK/SIN on Tuesday.

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Overnight on Wall Street, the S&P 500 gained 0.24% to 4,422.30 while the Dow Jones Industrial Average edged 82.76 points higher to 35,144.31. The Nasdaq Composite was fractionally higher at 14,840.71. The gains left all three major indexes stateside closing at new record highs.

Currencies

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 92.602 after a recent fall from above 92.8.

The Japanese yen traded at 110.29 per dollar, stronger than levels around 110.5 seen against the greenback yesterday. The Australian dollar was at $0.7381, above levels below $0.736 seen yesterday.

Oil prices were higher in the morning of Asia trading hours, with international benchmark Brent crude futures up 0.28% to $74.71 per barrel. U.S. crude futures advanced 0.21% to $72.06 per barrel.

Here’s a look at what’s on tap:

  • China: Industrial profits for June at 9:30 a.m. HK/SIN



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