Asia-Pacific markets are mixed on Tuesday, after Wall Street's tech sell-off which saw Tesla tumbling 6% after Goldman Sachs downgraded the electric car maker, citing pricing headwinds.
Hong Kong's Hang Seng index rebounded from its five-day losing streak and gained about 2%, leading gains in the region.
Mainland Chinese markets were also in positive territory, with the Shanghai Composite up 1.23% to snap a four-day losing streak to end at 3,189.44. The Shenzhen Component closed 0.97% higher, finishing at 10,978.08.
In Australia, the S&P/ASX 200 closed 0.56% higher at 7,118.2 ahead of tomorrow's inflation figures for May, which will give a clue to the Reserve Bank of Australia's rate moves in August.
In Japan, the Nikkei 225 registered a fourth straight day of declines and fell 0.49% to end at 32,538.33, while the Topix saw a loss of 0.28%, ending at 2,253.8.
South Korea's Kospi ended the day nearly flat at 2,581.39, while the Kosdaq fell 0.61% to close at 874.14.
Malaysia's sovereign wealth fund seeks greater portfolio resilience in volatile markets
Malaysia's sovereign wealth fund Khazanah Nasional is rebalancing its investment portfolio for greater resilience against market volatility, according to its managing director.
Khazanah's net asset value declined 5% to 81 billion ringgit ($17.4 billion) in 2022 from a year ago, hit by global market downtrends, the fund said in March. The Kuala Lumpur-based fund invests more than half of its portfolio in public markets.
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— Clement Tan
Japanese yen lingers at 7-month low against the U.S. dollar despite verbal warning
The yen was trading around 143 yen to the U.S. dollar, its weakest since Nov. 11 when it sank to 146.2 yen.
This follows a similarly-worded warning Monday from Vice Finance Minister for International Affairs Masato Kanda.
Last year, Japan's Finance Ministry intervened with roughly $68 billion to prop up the yen on three separate days: Sept. 22, Oct. 21 and Oct. 24 — as the currency notched 150 against the greenback, weakening to levels not seen since 1990.
A policy divergence between the Bank of Japan's ultra easy monetary policy and the U.S. Federal Reserve's aggressive tightening stance against inflation is driving dollar strength.
— Clement Tan
Mongolia PM's visit to China was 'very important' for trade and cooperation, says Mongolian minister
Mongolia's deputy minister of economy and development, Tuvdendorj Gantumur, says his country is looking to China for agricultural exports and investments to its mining sector, as Mongolia seeks to diversify its economy.
Shares of Singapore-listed Yangzijiang Shipbuilding surge almost 7% after Maersk contract win
Shares of Singapore-listed shipbuilder Yangzijiang Shipbuilding spiked over 6% on Tuesday after the company announced it had secured a contract from shipping company Maersk to build six methanol dual-fuel container ships.
Each of these ships have a capacity of 9,000 twenty-foot equivalent unit. The Maersk deal is the company's first order win for methanol dual-fuel containerships.
The six vessels secured will be fully constructed in-house and due for delivery between 2026 and 2027.
— Lim Hui Jie
CNBC Pro: Buy this stock set to plug a 'massive skills gap' in aging America, fund manager says
There's one stock that "resonates the most" for Dani Saurymper, whose fund invests in many sectors catering to an aging population.
"This isn't necessarily the biggest holding in the portfolio, but it's the one for me that really resonates the most in terms of the theme about social change, demographic shift, and it comes back to industry and it comes back to people," Saurymper told CNBC Pro Talks last week.
— Weizhen Tan
CNBC Pro: Big Tech fund manager reveals how he's managing valuations and which stocks to buy
The near-15% rally in the S&P 500 led by the tech sector could be overdone, according to Patrick Armstrong, chief investment officer of Plurimi Wealth.
But the fund manager isn't selling his Big Tech positions.
Armstrong, who manages the Plurimi AI Global Equity Strategy, revealed how he's trading the mega-valuations and names stocks to buy. He also forecast how the tech sector is likely to trade in the next half of the year should a recession occur.
— Ganesh Rao
Nasdaq drops nearly 1.2% to start the week
Stocks finished lower on Monday to kick off the final trading week of the second quarter and first half.
— Samantha Subin
Technology giants pressure Nasdaq Composite
The Nasdaq Composite lost more than 0.7% during midday trading Monday as major technology stocks pulled back.
Behemoth beneficiaries of the artificial intelligence boom, including Nvidia, Alphabet, Microsoft and Meta Platforms, were last down 4.3%, 2.4%, 1.3% and 2.9%, respectively. Tesla shed 5% following a downgrade from Goldman Sachs, while Netflix and Amazon lost 1% each.
— Samantha Subin
Berkshire continues cutting stake in Chinese electric carmaker BYD
It did not come up during last month's shareholders meeting. During a live CNBC interview in April, Buffett only said it is an "extraordinary company" being run by an "extraordinary person," but "I think that we'll find things to do with the money that I'll feel better about."
— Alex Crippen
Oil prices steady after aborted Russian mutiny
Oil prices steadied Monday, paring some early gains, as investors watched to see if there'll be further fallout from an attempted insurrection in Russia that could disrupt energy supplies from one of the world's largest oil producer nations.
West Texas Intermediate futures were last up about 0.61% at $69.58, after initially rising as much as 1.3% to just below $70 a barrel earlier Monday, followed by last week's almost 4% decline. Brent crude were trading about 0.66% higher at $74.35.
— Clement Tan, Sarah Min