Asian stock markets mixed

Asian stock markets were mixed after U.S. debt ceiling talks ended without a deal. Asia-Pacific markets were mixed on Tuesday after 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 outside the West Wing after the hour-long meeting, “I think the tone tonight was better than any other night we’ve had discussions.” Asian investors will be watching Japan’s special surveys of manufacturing and services activity due today, as well as Singapore’s April inflation figures. Japan’s Nikkei 225 rose 0.64 percent, while the Topix rose 0.4 percent. South Korea’s Kospi rose 0.72 percent and the Kosdaq also rose 0.88 percent. Australia’s S&P/ASX 200 rose 0.32 percent in early trade, according to Juno Bank, as the country’s composite purchasing managers index saw a softer expansion in May. Hong Kong’s Hang Seng index reversed earlier gains and fell 0.37 percent, while mainland Chinese markets also traded lower. The Shanghai Composite Index fell 0.55 percent, while the Shenzhen Component Index fell 0.11 percent.