Cityscape of skyscrapers at dusk as seen from Victoria Peak in Hong Kong, China, July 23, 2023.
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Asia-Pacific markets opened mixed on Tuesday, with Wall Street posting mixed gains as investors focused on the US Federal Reserve's decision.
Australia's S&P/ASX 200 traded 0.73% higher.
Japanese Nikkei Stock Average TOPIX rose 0.12% and 0.11%, respectively. Korean Kospi The stock fell 1%, while the Kosdaq fell 0.92%.
hong kong Hang Seng Index fell 0.4%, while mainland China's CSI 300 rose 0.34%.
Overnight in the US, the Nasdaq Composite hit a new all-time high as tech stocks rose. The tech stock ratio rose 1.24% to 20,173.89, while the S&P 500 index rose 0.38% to close at 6,074.08. The Dow Jones Industrial Average underperformed, dropping 110.58 points, or 0.25%, to 43,717.48. The Dow Jones Industrial Average (30 stocks) fell for eight days, marking its longest decline since 2018.
The US Federal Reserve's decision on December 18th is also a top concern for investors, with the CME FedWatch tool currently predicting a 98.2% chance of a 25 basis point (bp) rate cut. .
Contrary to the general uptrend, the market darling NvidiaThe artificial intelligence chipmaker, which has driven stock gains over the past two years, fell 1.7%. The decline has pushed the stock into correction territory, dropping more than 10% from its recent high in November.
—CNBC's Brian Evans and Jesse Pound contributed to this report.
