Investing.com - The Nikkei ended the morning down on Tuesday, eroding a gain of more than 7% in the past week as the currency retraced below 100, but Hong Kong moved up as investors sought shares of Chinese-based firms.
The Nikkei fell 0.73% in the morning session as USD/JPY fell below 100, while the Hang Seng index rose 0.37% on the prospect of greater foreign investment in major projects in China as the new leadership sets economic priorities. The Shanghai Composite added just 0.08%, moderating from a 2.9% gain in the previous session.
Australian stocks eased after the Reserve Bank of Australia said there was still some scope to ease, but also noted that a record low cash rate of 2.5% is working through the economy, with the S&P/ASX 200 dropping 0.4%.
South Korea's Kospi gained 1.1%.
Overnight, U.S. shares ended mixed to lower after noted investor Carl Icahn said he was cautious on stocks, which broke into record-high territory earlier on sentiments the Federal Reserve will keep its stimulus programs in place to bolster the economy.
Stimulus tools such as the Fed's USD85 billion in monthly bond purchases aim to spur recovery by driving down interest rates, boosting stock prices in the process.
At the close of U.S. trading, the Dow Jones Industrial Average finished up 0.09%, the S&P 500 index fell 0.37%, while the Nasdaq Composite index fell 0.93%.
The Dow Jones Industrial Average broke 16,000 for the first time earlier while the S&P 500 broke above 1,800 for the first time on widespread sentiments that the Fed will continue purchasing bonds through early 2014 before letting the economy stand on its own two feet.
European indices, meanwhile, finished higher.
After the close of European trade, the EURO STOXX 50 rose 0.93%, France's CAC 40 rose 0.66%, while Germany's DAX 30 rose 0.62%. Meanwhile, in the U.K. the FTSE 100 finished up 0.45%.
On Tuesday, the U.S. is to release data on the employment cost index, an important inflation indicator.
The Nikkei fell 0.73% in the morning session as USD/JPY fell below 100, while the Hang Seng index rose 0.37% on the prospect of greater foreign investment in major projects in China as the new leadership sets economic priorities. The Shanghai Composite added just 0.08%, moderating from a 2.9% gain in the previous session.
Australian stocks eased after the Reserve Bank of Australia said there was still some scope to ease, but also noted that a record low cash rate of 2.5% is working through the economy, with the S&P/ASX 200 dropping 0.4%.
South Korea's Kospi gained 1.1%.
Overnight, U.S. shares ended mixed to lower after noted investor Carl Icahn said he was cautious on stocks, which broke into record-high territory earlier on sentiments the Federal Reserve will keep its stimulus programs in place to bolster the economy.
Stimulus tools such as the Fed's USD85 billion in monthly bond purchases aim to spur recovery by driving down interest rates, boosting stock prices in the process.
At the close of U.S. trading, the Dow Jones Industrial Average finished up 0.09%, the S&P 500 index fell 0.37%, while the Nasdaq Composite index fell 0.93%.
The Dow Jones Industrial Average broke 16,000 for the first time earlier while the S&P 500 broke above 1,800 for the first time on widespread sentiments that the Fed will continue purchasing bonds through early 2014 before letting the economy stand on its own two feet.
European indices, meanwhile, finished higher.
After the close of European trade, the EURO STOXX 50 rose 0.93%, France's CAC 40 rose 0.66%, while Germany's DAX 30 rose 0.62%. Meanwhile, in the U.K. the FTSE 100 finished up 0.45%.
On Tuesday, the U.S. is to release data on the employment cost index, an important inflation indicator.