Asian stocks were mixed Tuesday as markets like South Korea and Taiwan that are heavily weighted toward technology shares declined following a sell-off on Wall Street.
futures edged lower and oil prices moved higher.
South Korea’s benchmark Kospi fell 2.5% to 5,712.57.
Memory chipmaker SK Hynix dropped 3.6% and Samsung Electronics declined 2.9%, giving up Monday's gains.
Markets in Tokyo were closed for a holiday.
In Hong Kong, the Hang Seng gained 0.3% to 23,469.64.
The Shanghai Composite index retreated 0.7% to 3,614.17.
Gains from market supporting measures announced Monday were short-lived.
Australia’s S&P/ASX 200 rose 0.2% to 8,871.80.
Investors are awaiting a central bank decision on interest rates.
The Reserve Bank is expected to hike its benchmark rate for a fifth time this year.
Taiwan’s Taiex slid 0.9%.
On Monday, the S&P 500 sank 0.5% after erasing a 1.1% gain earlier in the day.
The Dow Jones Industrial Average rose 0.4%, while the Nasdaq composite fell 1.1%.
The mixed performance for indexes came even though the majority of stocks within the S&P 500 climbed.
They benefited from a recent 7.6% drop in the price of a barrel of Brent crude, which closed at $104.77.
It’s the latest yo-yo move for oil prices on uncertainty about when the war with Iran will end, allowing the global industry to return to normal.
The price for the most actively traded contract in the Brent market has been veering between roughly $70 and $120 per barrel since just before the war with Iran began, and it’s been quick to reverse direction.
So have stocks in the artificial-intelligence industry, which have been shaky for....
