Crypto sell-off, Nikkei 225, Hang Seng Index

Shares of South Korean auto companies rose on Tuesday after US Commerce Secretary Howard Lutnick confirmed that a 15% reduction in US auto tariffs on South Korea will take effect retroactively, starting on November 1.

“We are also eliminating tariffs on aircraft parts and will eliminate reciprocal tariffs on South Korea to match those of Japan and the European Union,” Lutnick said, according to the U.S. Commerce Department’s Publication X.

Shares of automakers Hyundai Motor and Kia Corp rose by about 5% and 3%, respectively.

South Korea Cosby Kosdaq stock jumped 1.02%, while small cap Kosdaq fell 0.13%.

South Korea’s headline inflation rate in November rose by 2.4% year-on-year, According to government data on Tuesday, exceeding the 2.35% rise that economists had expected in a Reuters poll. Core inflation, which does not include fresh food and energy prices, rose 2% from the previous year.

The latest figure was unchanged from October’s inflation rate, supporting the central bank’s case for keeping interest rates unchanged. It was the Bank of Korea I stay Interest rates remained unchanged at 2.5% for the fourth meeting in a row last Thursday.

Most benchmark indices in the broader Asia-Pacific region rose on Tuesday.

Japan standard Nikki 225 The index rose by 0.54%, and the Topix index rose by 0.44%. Financials, energy and basic materials sectors led gains on the index.

Among the top moving stocks on the Nikkei 225 was the maker of industrial robots FanucWhich increased by 5.86%. NGK Insulatorswhich manufactures advanced diesel particulate filters up to 6%, and Electrical Equipment Company Fujikura He added 2.29%.

Yields on 10-year Japanese government bonds rose to 1.88%, the highest level since June 2008, amid… Increasing speculation The central bank will raise interest rates as soon as this month.

Meanwhile, the yield on 20-year Japanese government bonds rose to 2.915%, the highest level since 1999, and the yield on 30-year Japanese government bonds rose to an all-time high of 3.411%.

Australia ASX/S&P 200 It rose by 0.12%.

Hong Kong Hang Seng Index Mainland China’s CSI 300 index added 0.49% at an open of 0.17%. shares Alibaba The group rose nearly 3% in Hong Kong, rising for the third straight session, trailing the tech giant Fired Quark AI glasses in China on November 27.

India’s Nifty 50 index opened 0.22% lower, and the BSE Sensex fell 0.37%. Bajaj Housing Finance was among the top losers in the Nifty 50, falling more than 8%, after parent company Bajaj Finance said it would sell up to 2% of its stake in the subsidiary.

US stock futures were little changed during Asian hours after all three major indexes snapped a five-day winning streak, as a sell-off in cryptocurrencies dampened market sentiment.

the Standard & Poor’s 500 The index lost 0.53% to close at 6812.63 points, while shares declined Nasdaq Composite It fell by 0.38% to close at 23275.92. the Dow Jones Industrial Average The index fell 427.09 points, or 0.9%, to settle at 47,289.33 points.

overnight, Bitcoin It fell about 6% to trade below $86,000, weighing on investor sentiment and putting pressure on the broader stock market. It was trading at $86,866.49 as of 9:30am on Tuesday (8:30pm EST on Monday) Singapore time. The digital currency has been struggling to stay above $90,000 since it fell below that level late last month for the first time since April.

Other cryptocurrency-related stocks, including Coinbase and strategyIt also fell during Monday’s session in US trading hours.

Stock names related to artificial intelligence, Broadcom and Super micro computer The stock lost more than 4% and 1%, respectively, indicating more profit-taking in the sector.

— CNBC’s Alex Haring and Fred Imbert contributed to this report.