HSBC earnings expected, Big Tech shares tumble overnight stateside

SINGAPORE — Shares in Australia was little changed in Tuesday morning trade, with investors in Asia-Pacific set to monitor technology stocks regionally after their counterparts declined overnight on Wall Street.

In morning trade, the S&P/ASX 200 traded slightly higher.

On the earnings front, HSBC is set to report its full-year results on Tuesday. Reuters reported Monday, citing a source familiar with the matter, that HSBC is set to withdraw from U.S. retail banking.

Markets in Japan are closed on Tuesday for a holiday.

Technology shares on watch

Investors will be watching technology shares in Asia-Pacific on Tuesday after their counterparts tumbled overnight — the Nasdaq Composite fell 2.46% to close at 13,533.05, with Big Tech stocks such as Apple, Amazon and Microsoft all falling at least 2%.

The S&P 500 declined 0.8% to end its trading day on Wall Street at 3,876.50. The Dow Jones Industrial Average bucked the overall trend as it edged 27.37 points higher to close at 31,521.69.


The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 90.075 following a decline from levels above 90.4.

The Japanese yen traded at 104.99 per dollar, stronger than levels above 105.6 against the greenback seen yesterday. The Australian dollar changed hands at $0.7919, largely holding on to gains following its surge late last week from around $0.777.

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