FX.co ★ Asian Shares Mixed Ahead Of Big US Earnings

Tuesday's Asian stock markets showed mixed results as investors monitored the latest events in the Middle East, along with the impending earnings reports from major U.S companies such as Amazon, Apple, Netflix, and General Motors. Additionally, they kept a close eye on key U.S growth and inflation data ahead of the next Federal Open Market Committee meeting set for the end of April and the start of May.

The dollar index remained slow while the cost of gold fell, moving further from its record high of $2,430 per ounce. This appears to be a result of decreased tension between Iran and Israel, following missile attacks from both sides. Europe's foreign ministers have agreed, in principle, to increase sanctions on Iran, thus causing a marginal increase in crude oil prices.

After the head of its central bank expressed a desire for creditors involved in debt restructuring for emerging markets, to agree on a fair distribution of relief, the Chinese stock market experienced a significant downturn. Conversely, the Hong Kong's Hang Seng index rose by 1.92 percent to reach 16,828.93, following a promise by China's securities regulator to strengthen their market.

Similarly, the Japanese market saw modest gains with slight increases in the yen from a 34-year low and bond yields reaching multiple-year peaks. This followed a ruling party official's suggestion that intervention to support the currency may be on the cards.

Australian markets also closed positively, owing largely to strong performance by heavyweight financial institutions. Despite warning of a hit to their half-year earnings, Westpac Banking Corp saw a 0.9 percent gain. Conversely, gold miners reported the biggest losses, with Northern Star Resources and Regis Resources declining by 3.5 percent and 4.6 percent respectively.

In the overnight session, U.S stocks closed higher, with the S&P 500 rising 0.9 percent, reversing a six-day losing streak. This was due primarily to lessening fears of a wider conflict in the Middle East and anticipation of upcoming quarterly results from major companies. Likewise, the Dow increased by 0.7 percent and the tech-driven Nasdaq Composite climbed by 1.1 percent.