Name: Asia-Pacific markets mixed as shares in South Korea, China struggled for gains
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Asia-Pacific markets mixed as shares in South Korea, China struggled for gains

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Key PointsIn this articleSINGAPORE —&nbsp;Asia-Pacific markets traded mixed Tuesday after starting the week by struggling for gains in what some analysts have described as a fragile environment for stocks.In Australia, the benchmark trimmed some of its early gains but still finished the session up 0.47%, or 31.6 points, at 6,771.20. The heavily-weighted financials subindex advanced 0.95% as major banking names rose. shares closed up 1.32%, added 0.65%, rose 0.73% and was up 0.83%.Japanese shares initially struggled after market open, but the erased early losses and closed up 0.99%, or 284.69 points, at 29,027.94. The Topix index advanced 1.27%, or 24.10 points, to 1,917.68.Banking and auto shares in Japan broadly rose as names like of , , and finished up 1.84%, 2.86% and 3.68%, respectively.South Korean shares fell, with the closing down 0.67%, or 19.99 points, at 2,976.12 and the Kosdaq lost 0.93%, or 8.41 points, to 896.36. Tech shares wavered between gains and losses: Samsung fell 0.73%, chipmaker SK Hynix reversed earlier losses and closed up 0.74%, while search engine operator Naver tumbled 1.9%. LG Electronics rose 1.05%.Chinese mainland shares fell, with the closing down 1.82%, or 62.12 points, at 3,359.29 and the fell 2.8%, or 388.09 points, to 13,475.72. In Hong Kong, the advanced 0.24% in late-afternoon trade.Tuesday's session followed after European and U.S. stocks began the new week on a positive mood, where blue-chip benchmark while the rotation out of tech continued.The overnight moves were "driven by cyclicals and banks, a sign of optimism about the economic outlook and the impact of steeper yield curves," said Rodrigo Catril, a senior foreign-exchange strategist at the National Australia Bank.Analysts at Mizuho Bank said in a Tuesday morning note that "unrelentingly higher" U.S. Treasury yields "appear to be the culprit demanding a re-assessment of valuations."The has risen sharply in recent weeks, in anticipation of more stimulus on top of a booming economic recovery in the United States. The benchmark rate started the calendar year below the 1% mark and was around 1.5542% as of Tuesday afternoon during Asian trading hours.Investors this week will watch as the to get fresh aid to Americans starting this month. That follows after the Senate passed the legislation over the weekend. President is expected to sign it before key unemployment programs expire on Sunday.Analysts also said that they remain constructive on the near term economic outlook.The traded near flat at 92.287 against a basket of its peers, retreating from an earlier session high of 92.503.The changed hands at 109.01 per dollar, weakening from an earlier level around 108.85, while the gained 0.26% to $0.7669.Momentum in the oil market wavered during Asian trading hours on Tuesday. gave up earlier gains to trade down 0.89% at $64.47 a barrel while fell 0.73% to $67.74.The global benchmark broke the $70-mark on Monday after Saudi Arabia initially reported that its . A Houthi military spokesman claimed responsibility for the attacks.Analysts said that the run up in prices were likely to be short-lived as the Saudis said there was no significant damage to infrastructure and oil prices retreated overnight.

Key PointsIn this articleSINGAPORE —&nbsp;Asia-Pacific markets traded mixed Tuesday after starting the week by struggling for gains in what some analysts have described as a fragile environment for stocks.In Australia, the benchmark trimmed some of its early gains but still finished the session up 0.47%, or 31.6 points, at 6,771.20. The heavily-weighted financials subindex advanced 0.95% as major banking names rose. shares closed up 1.32%, added 0.65%, rose 0.73% and was up 0.83%.Japanese shares initially struggled after market open, but the erased early losses and closed up 0.99%, or...

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Asia-Pacific markets mixed as shares in South Korea, China struggled for gains

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