Asia markets open mixed; Japan stocks eke out gains

Asia-Pacific markets had a mixed performance on Tuesday. The Nikkei 225 index in Japan rose slightly, while South Korean markets opened lower. Wall Street’s rally took a pause on Monday, causing its main indexes to retreat from record highs and impacting trading sentiment. Key economic data this week includes China’s manufacturing purchasing managers’ index and the U.S. personal consumption expenditures price index. The Nikkei 225 in Japan reached a record high and rose 0.3%, while South Korea’s Kospi dropped 0.1%. Hong Kong’s Hang Seng index is expected to open slightly higher, and Australia’s S&P/ASX 200 fell 0.4%. The S&P 500, Nasdaq Composite, and Dow Jones Industrial Average all experienced declines. Cryptocurrency-related stocks surged as bitcoin broke through the $54,000 level for the first time since December 2021. Coinbase, Microstrategy, Riot Platforms, and Marathon Digital all saw significant gains, while other cryptocurrencies also experienced positive movements.