Asia-Pacific stocks trade mixed as Wall Street benchmarks slip from record highs

Asia-Pacific markets traded mixed on Tuesday, with Hong Kong and Japan’s Nikkei 225 experiencing declines. Trading sentiment was subdued as Wall Street’s rally paused, with key indexes retreating from record highs. Major economic data expected this week includes China’s manufacturing purchasing managers’ index and the US personal consumption expenditures price index, which is the Federal Reserve’s preferred inflation metric. The Nikkei 225 traded slightly higher, while Australia’s S&P/ASX 200 was up. South Korea’s Kospi and the small cap Kosdaq fell, while China’s CSI 300 index and Hong Kong’s Hang Seng index had mixed performance. The S&P 500 and Nasdaq Composite declined from record highs, while the Dow Jones Industrial Average slipped.