A bronze bull statue in front of the Bombay Stock Exchange (BSE) building in Mumbai, India, Monday, June 3, 2024. Indian stock futures surged after exit polls indicated a resounding victory for Prime Minister Narendra Modi’s ruling party in the general elections that ended on Saturday. . Photographer: Dhiraj Singh/Bloomberg via Getty Images
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Asia-Pacific markets mostly fell on Tuesday, after a mixed session on Wall Street.
Investors saw the light in terms of economic data from Asian countries. Meanwhile, Hyundai Motor India made its trading debut after a record-breaking IPO.
The shares were trading lower at Rs 1,860 from their IPO price of Rs 1,960, according to BSE data. The automaker had offered 142.19 million shares at a price range between 1,865 Indian rupees ($22.18) and 1,960 rupees. The IPO raised 278.56 billion rupees, or $3.3 billion.
Australia S&P/ASX200 was down 1.66% to close at 8,205.7, its lowest level in almost 2 weeks.
South Korea Kospi fell 1.31% to close at 2,570.7, while the small-cap Kosdaq lost 2.84% to its lowest level in over a month.
The reference of Japan Nikkei 225 fell 1.39% to 38,411.96, while the broader Topix index traded 1.06% lower at 2,651.47.
Hong Kong’s Hang Seng Index rose 0.12% in its final hour, while mainland China’s CSI 300 Index climbed 0.57% to end at 3,957.78.
During the American stock market session, two officials from the Federal Reserve discussed the trajectory of interest rates.
Minneapolis Fed President Neel Kashkari highlighted the resilience of the U.S. economy and the strength of the job market, and said the long-term trajectory of interest rates could be higher than in the past .
Dallas Federal Reserve President Lorie Logan said she supported the current decision to cut interest rates, but that a patient approach would be necessary.
In the United States, stocks ended the day mixed as Treasury yields rose and investors awaited further earnings reports.
The S&P 500 slipped 0.18% and the 30-stock Dow lost 0.8%, ending a three-day streak of winning sessions. The Nasdaq Composite was the outlier, up 0.27%.
— CNBC’s Pia Singh and Sarah Min contributed to this report.