An aerial photo of containers at the Beilun port in Ningbo, Zhejiang Province, China, April 11, 2024.
Nurphoto | Nurphoto | Getty Images
Asia-Pacific markets fell sharply on Tuesday even as Wall Street's Dow Jones Industrial Average hit a new high.
The main stock index rose 65.44 points, or 0.16 percent, to close at 41,240.52.
Asian traders will also be keeping an eye on China's year-to-date industrial profits as of July.
Late Monday, oil prices continued to rise after Israel and Hezbollah exchanged attacks over the weekend, with U.S. West Texas Intermediate crude oil rising 3.5% to close at $77.42 a barrel, while Brent crude rose 3.05% to $81.43 a barrel, its highest in nearly two weeks.
Oil prices later pared gains slightly on Tuesday, with WTI futures trading at $77.16 and Brent crude futures at $81.23.
Japan's Nikkei Stock Average fell 0.35%, while the Tokyo Stock Price Index was flat.
South Korea's KOSPI fell 0.42%, while the small-cap KOSDAQ fell a steeper 1.14%.
Australia's S&P/ASX 200 rose 0.13%, the only major Asia-Pacific index to enter positive territory, almost surpassing its all-time high of 8,114.7, reached on August 1.
Hong Kong Hang Seng Index futures were at 17,694, below the HSI's last close of 17,798.73.
Overnight in the US, despite the Dow Jones Industrial Average rising, both the S&P 500 and the Nasdaq Composite Index fell, down 0.32% and 0.85% respectively.
—CNBC's Lisa Kailai Han and Sarah Ming contributed to this report.
