Asian markets closed higher at the end of trading on Tuesday, August 5, benefiting from gains in US markets in the opening session yesterday, Monday. However, Indian markets declined due to concerns about geopolitical tensions between India and the United States.
The MIRI services purchasing managers’ index rose to 52.6 in July, recording the fastest pace of growth since May 2024, compared to 50.6 in June, as the summer travel season and increased demand supported the index in July.
The Nikkei index closed the session at 40,549 points, up 0.64%, or 258 points. The Topix index of the Tokyo Stock Exchange rose today by about 0.70%, closing at 2,936 points. The NTN and GS Yuasa indexes led the index’s gains, with gains of 15% and 7%, respectively. In terms of stock movements, Mitsubishi Heavy Industries shares rose more than 4% after it announced it had won a $6 billion contract from the Australian Navy to build 11 new frigates.
Japan is also seeking to reduce auto tariffs, with chief trade negotiator Akazawa departing for Washington to urge it to move forward with the reduction of auto tariffs as promised in the trade agreement.
Chinese indices registered gains today, with the broader CSI300 index rising about 0.80% to close at 4,103 points, while the Shanghai Composite Index of the Shanghai Stock Exchange closed up 0.87% at 3,614 points.
Hong Kong’s Hang Seng Index, the main index of the Stock Exchange, rose about 0.57% to close at 24,874 points, led by gains in BYD Electronic and Lenovo, which rose more than 7.5% and 4.50%, respectively. In contrast, the South Korean Kospi index rose by approximately 1.60% in today’s session, closing at 3,198 points. Figures released this morning showed that consumer price inflation in South Korea rose to 2.1% in July, compared to a growth of 2.2% in June. The index rose by 0.2% on a monthly basis, supporting the Bank of Korea to resume its interest rate cutting cycle.

India’s Sensex index fell by approximately 0.30% before closing at 80,784, while the Nifty 50 index fell by approximately 0.30% to trade at 24,643 points. Trump announced plans to significantly raise tariffs on Indian exports and pressure it to stop purchasing Russian oil, which he claimed was supporting the war against Ukraine through these oil purchases. New Zealand stock markets closed with gains today, with the NZX50 rising 1.52% to close at 12,877 points, while Australia’s ASX200 index rose 1.23% to close at 8,770 points. Singapore’s FTSE Statistical Time Index rose 0.30% in pre-market trading to trade at 4,209 points.