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Asian stocks trade mixed, focus on the Israel-Hamas conflicts, high yields

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Asian stocks trades mixed on Tuesday amid worries about Israel-Hamas tensions. The US Dollar (USD) drops to one-month lows whereas oil prices recover

Asian equities have a mixed performance on Tuesday amid the Middle East geopolitical tensions and the volatile US Treasury bond yields. Central Huijin Investment Co plans to increase its local ETF holdings, which boosts Chinese stocks. Japanese PMI data showed the ongoing weakness in Asia's second-largest economy. Investors will monitor the US S&P Global PMI, due later on Tuesday. some lost ground. US Treasury bond was the center of attention in the previous session.

That being said, Central Huijin Investment Co, a Chinese sovereign fund, plans to increase its local ETF holdings, which boosts Chinese stocks. In Japan, Jibun Bank Manufacturing PMI for October eased to 48.5 versus 48.5 prior, worse than the market expectation of 48.9. Meanwhile, the Services PMI came in at 51.1 from the previous reading of 53.8. These figures suggested ongoing weakness in Asia's second-largest economy.

 

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