Asia-Pacific markets fell Tuesday, with investors exercising caution even as U.S. stocks continued their postelection rally, with key benchmarks closing at record highs.
Hong Kong’s Hang Seng index dropped 2.76%, while mainland China’s CSI 300 shed 1.1% to end at 4,085.74. Australia’s S&P/ASX 200 closed 0.13% lower at 8,255.6. South Korea’s Kospi fell by 1.94% to close at 2,482.57, while the Kosdaq Index dropped 2.51% to 710.52.
Japan’s Nikkei 225 slipped 0.4% to close at 39,376.09. The Topix ended the trading day around the flatline at 2,741.52.
Traders in Asia-Pacific also assessed economic data from the region, including a survey from the National Australia Bank on business conditions and Indonesia’s September retail sales.
India will be reporting its consumer price index reading for October, and oil cartel OPEC will release its monthly oil market report later in the day.
The Dow Jones Industrial Average surged more than 300 points on Monday and closed at a record high as the benchmark’s postelection rally pressed forward.
The 30-stock Dow gained 304 points, or 0.69%, to 44,293.69. It’s rise brought the index above 44,000 for the first time. The S&P 500 added 0.1% to end the day at 6,001.35, also a record close. However, the Nasdaq Composite hovered near the flatline, up 0.06% to 19,298.76.
Bitcoin surged above $87,000, boosted by hopes of deregulation as well. Crypto related stocks Coinbase and Mara Holdings rallied 20% and 30%, respectively.
