Asia Pacific stocks rose in early trade on Tuesday, while U.S markets fell on Wall Street overnight with losses in tech shares.
Asia-Pacific Market Indexes Chart
Investors are keeping an eye on testimony from Federal Reserve Chair Jerome Powell due Wednesday. It follows after a stronger-than-expected jobs report in the U.S. raised questions about whether the Fed will cut interest rates later this month.
Apple shares fall
Stocks in the U.S. fell overnight as Apple shares lost more than 2%, pressuring the broader tech sector.
An analyst at Rosenblatt Securities downgraded the tech giant’s stock to sell from neutral, saying the company will “face fundamental deterioration over the next 6 to 12 months.”
Oil and currencies
The dollar last traded at 97.365 against a basket of its peers, climbing from levels below 96.800 in the previous week. The Japanese yen traded at 108.76, weakening from levels near 107.60 last week while the Australian dollar fetched $0.6973, after falling from previous levels near $0.7020.