Markets Asia: Caution dominates the scene at Asian markets
The hopeful signals for a deal in the Middle East are only moderately driving Asian stock markets. Quarterly figures also cannot move the indexes.
The market situation across Asian countries is characterized by caution and uncertainty, according to the Landesbank Baden-Württemberg. While US President Donald Trump issued a new ultimatum to Iran for talks aimed at resolving the conflict, a cargo ship was attacked again in the Strait of Hormuz. South Korean stocks emerged as the winners, with the Kospi recovering somewhat from its losses the previous day, gaining 1.6 percent.
Deutsche Bank market strategists cited a weakening in the market as consumer prices rose in July. The Japanese Nikkei 225 index rose by 0.3 percent to 63,958, indicating no clear trend. In China, the CSI-300 index, which tracks key mainland values, increased by 1.1 percent, attributed to gains in technology stocks. However, the Hang-Seng index in Hong Kong fell by 0.8 percent, showing cautious reactions to Toyota's revised profit forecast.
Toyota, the world's largest automaker, had raised its profit outlook for the first quarter, projecting a 3.4 trillion yen (18.8 billion euro) operational profit for the fiscal year ending in March, down from 3 trillion yen. Despite the improvement, Toyota's stock remained in the red as the company announced plans to buy back shares worth up to one trillion yen.
Written by urgent.news from Handelsblatt's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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