CANBERA (dpa-AFX) - Asian stocks ended mixed on Tuesday and the dollar index held steady as investors looked ahead to a slew of U.S. economic data as well as tech megacap earnings for directional cues.
Traders also remained apprehensive that a Donald Trump victory in the upcoming U.S. presidential election may slow global growth.
Gold edged up in Asian trading while oil steadied after tumbling 6 percent on Monday, the biggest decline in more than two years on signs the war in the Middle East would not widen.
China's Shanghai Composite index fell 1.08 percent to 3,286.41 as caution set in ahead of a top leadership meeting next week, expected to discuss stimulus measures.
Investors also reacted to reports suggesting that the Biden administration has finalized restrictions on investments by U.S. individuals and companies into advanced technology in China.
Hong Kong's Hang Seng index rose 0.49 percent to 20,701.14, with Baidu and Alibaba Group Holding leading the surge.
Japanese markets rose notably as the yen found its footing, after having plunged to a three-month low the previous day.
Ahead of the Bank of Japan policy meeting on Thursday, the head of the opposition Democratic Party for the People said that the central bank should avoid making big changes in its ultra-loose monetary policy.
The Nikkei average rose 0.77 percent to 38,903.68 to extend Monday's rally amid reports that Prime Minister Shigeru Ishiba's ruling party was reportedly locked in talks to form new alliances.
The broader Topix index settled 0.91 percent higher at 2,682.02. Shares of Nippon Paint Holdings jumped 14.3 percent after the company agreed to buy U.S. chemical firm AOC.
Seoul stocks ended modestly higher ahead of earnings from Alphabet, Meta, Microsoft, Apple and Amazon due this week.
The Kospi average ended up 0.21 percent at 2,617.80. Samsung Electronics surged 2.6 percent while SK Hynix fell 2.9 percent.
Australian markets eked out modest gains to end higher for a third day running. The benchmark S&P/ASX 200 inched up 0.34 percent to 8,249.20 ahead of domestic inflation data due on Wednesday.
The broader All Ordinaries index finished 0.33 percent higher at 8,505.90, with banks and miners leading the surge.
Across the Tasman, New Zealand's benchmark S&P/NZX 50 index ended little changed with a positive bias at 12,783.36 after a choppy session.
U.S. stocks advanced overnight after ending mixed over the two previous sessions. Investors kept a close eye on political news and looked forward to key economic data and earnings from several of the biggest tech-related companies.
The Dow gained 0.7 percent, while the S&P 500 and the tech-heavy Nasdaq Composite both edged up by 0.3 percent.
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