TOKYO -Asian stocks were broadly mixed in volatile trading on Tuesday as investors girded for three days of tech megacap earnings reports on Wall Street, kicking off with Google parent Alphabet (NASDAQ:
Crude was on the back foot following a plunge on Monday on signs the war in the Middle East would not widen, after Israel avoided targeting oil and nuclear facilities in a retaliatory strike on Iran at the weekend. The bulk of the"Magnificent Seven" group of megacap technology stocks that have driven Wall Street to all-time highs this year report financial results this week. Earnings from Meta Platforms (NASDAQ:stood at 104.29, after reaching 104.57 overnight, matching the high from Wednesday of last week, a level previously not seen since July 30.
Ten-year U.S. Treasury yields eased to 4.2661% on Tuesday, after reaching the highest since July 11 at 4.3% overnight. In Japan, a period of wrangling to secure a coalition is likely after Prime Minister Shigeru Ishiba's Liberal Democratic Party and its junior partner Komeito lost their majority in parliament, in a scathing result that potentially means bigger fiscal spending and complicates the Bank of Japan's push to normalise interest rates.
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