Asian stock markets are trading mostly higher on Tuesday, benefiting from a pullback in the price of crude oil, as well as news that Germany's lower house of parliament voted in favor of a second Greek bailout package.
Upbeat economic data from the U.S. adds to the positive sentiment. The positive start is also after most of the regional bourses saw heavy selling in the previous session.
However, the Japanese market is bucking the trend and is trading weak. The market opened lower as investors vented their disappointed after major DRAM chip manufacturer Elpida Memory Inc. filed for court protection from creditors.
The benchmark Nikkei 225 index opened lower at 9,567.12 and then rose to 9,598.67, but is currently trading at 9,568.65, down 65.28 or 0.68 percent.
On Monday, the Nikkei index edged down 0.1 percent, while the broader Topix index was up 0.1 percent.
In the currency market, the U.S. dollar was trading in the lower 80 yen-level in Tokyo. In late morning trades, the dollar was quoting at 80.20, down 0.42 yen from Monday's close of 80.62 yen.
The Australian market is trading nearly flat in the afternoon after the German parliament approved a second loan package for Greece.
The benchmark S&P/ASX 200 Index is unchanged at 4270.60, while the broader All Ordinaries Index is up 1 point or 0.01 percent to 4,355.10.
On Monday, the Australian market closed slightly lower. The S&P/ASX 200 fell 0.9 percent, and the broader All Ordinaries index was down 0.8 percent.
In the currency market, the Australian dollar is currently quoting at US$1.0765, up from Monday's close of US$1.0758.
Among other Asian markets, Hang Seng, New Zealand, Singapore, Seoul and Taiwan are currently trading marginally higher, while Shanghai and Malaysia are trading in negative territory. Markets in the region closed mostly lower on Monday.
On Wall Street, stocks staged a significant recovery over the course of the morning after moving notably lower in early trading on Monday, but the markets eventually ended roughly flat after buying interest waned thereafter.
Renewed concerns about the financial situation in Europe contributed to the initial weakness on Wall Street, with traders reacting negatively to a statement from the G20 finance ministers and central bank governors.
The Dow reached an intraday high above 13,000 but ended the session modestly lower. The index edged down 1.44 points or less than a tenth of a percent to 12,981.51. Meanwhile, the Nasdaq inched up 2.41 points or 0.1 percent to 2,966.16 and the S&P 500 rose 1.85 points or 0.1 percent to 1,367.59.
Meanwhile, the major European markets also moved to the downside on the day but closed well off their worst levels. While the French CAC 40 Index fell by 0.74 percent, the U.K.'s FTSE 100 Index and the German DAX Index dipped by 0.33 percent and 0.22 percent, respectively.
U.S. crude oil futures broke its seven-day winning streak but remained at nine-month highs. Light Sweet Crude Oil futures for April delivery, dropped $1.21 or 1.1 percent to close at $108.56 a barrel on the New York Mercantile Exchange on Monday.
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Market Analysis
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.