Asia markets mixed as U.S. debt ceiling talks end with no deal


People are reflected in an electronic quotation board displaying the 225-issue Nikkei Stock Average (top) as they cross a street in Tokyo on May 17, 2023. (Photo by Kazuhiro NOGI / AFP) (Photo by KAZUHIRO NOGI/AFP via Getty Images)

Kazuhiro Nogi | Afp | Getty Images

Asia-Pacific markets were mixed on Tuesday as talks between U.S President Joe Biden and House Speaker Kevin McCarthy ended without a deal.

House Speaker Kevin McCarthy said he had a “productive” and “professional” meeting, and said “I think the tone tonight was better than any other night we’ve had discussions,” McCarthy said outside the West Wing following the hourlong meeting.

Asian investors will be watching private surveys on Japan’s manufacturing and services activity released today, as well as Singapore’s inflation numbers for April.

In Japan, the Nikkei 225 was 0.23% down, while the Topix was also 0.28% lower. Both indexes erased earlier gains made in the day. South Korea’s Kospi climbed 0.53% and the Kosdaq was also 0.77% higher. 

In Australia, the S&P/ASX 200 gained 0.23% as the country’s composite purchasing managers index saw a softer expansion in May, according to Juno Bank.

Hong Kong’s Hang Seng index reversed earlier gains and was down 0.57%, while mainland Chinese markets also traded lower. The Shanghai Composite was down 0.58% while the Shenzhen Component was 0.12% lower.

Overnight in the U.S., the three major indexes ended the session mixed, with the Nasdaq Composite rising 0.5% and finishing at its highest close and highest intraday level since August.

Separately, the S&P 500 gained 0.02% on Monday, but the Dow Jones Industrial Average lost 0.42%.

— CNBC’s Samantha Subin and Jesse Pound contributed to this report