Asian Markets Trade Mostly Lower

Asian markets are trading mostly lower on Tuesday, despite the broadly positive cues from Wall Street overnight, dragged by technology stocks which came under significant selling pressure amid concerns over high valuations in AI-linked companies. Meanwhile, markets scaled back expectations for US Fed rate hikes this month and in September amid easing Middle East tensions and global inflationary pressures. Asian markets closed mixed on Monday.

The Australian stock market is slightly lower on Tuesday, extending the slight losses in the previous session, despite the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 index is falling well below the 8,850 level, with weakness in gold miners and energy stocks.