Asian markets show a mixed performance following a quiet US holiday

Asian markets saw a mixed performance on Tuesday as investors reacted to news of Chinese leaders affirming their commitment to containing financial risks. In Tokyo, the Nikkei 225 fell slightly, while the Kospi in Seoul inched higher. Australian shares dipped, but Chinese markets saw a slight uptick, with Hong Kong’s Hang Seng also posting gains.

The Chinese government’s recent efforts to revive the property sector, including easing interest rates and down payment requirements for housing loans, have been closely watched by investors. The housing industry plays a crucial role in driving the economy, and concerns over defaults among developers have weighed on growth.

Chinese President Xi Jinping emphasized the importance of preventing and defusing financial risks during meetings on Monday, according to the official Xinhua News Agency. Efforts to strengthen oversight and hold violators accountable were highlighted as key priorities.

Meanwhile, in the U.S., oil prices rose in electronic trading, with U.S. benchmark crude gaining over $1 to $78.86 per barrel. Geopolitical tensions and rising U.S. demand were cited as factors supporting further gains in the oil market.

In currency markets, the U.S. dollar slipped against the Japanese yen, while the euro rose slightly. Overall, investors are closely monitoring developments in China and the oil market for clues on the global economic outlook.