FX168 Financial News Agency (Asia Pacific) News On Tuesday (October 29), the stock markets in asia saw mixed ups and downs, with investors looking forward to the start of a three-day tech giant earnings week on Wall Street. Alphabet, Google's parent company, will unveil new developments later in the day.

The Nikkei 225 index rose by 0.77%, closing at 38,903.68 points, continuing the 1.82% increase from the previous trading day. The Hang Seng Index in Hong Kong rose by 0.5%, with an early trading session increase of 1.6%. The blue chip index in Mainland China fell by 0.75%, reversing an earlier 0.68% increase.

S&P 500 index futures remained flat, with the index rising by 0.26% in the previous trading day.

The financial reports of the 'Magnificent 7' technology giants are the focus of Wall Street this week. Meta and Microsoft will report earnings on Wednesday, while Apple and Amazon will do so on Thursday.

"The market lacks momentum, and chasing highs at this stage is not wise," said IG market analyst Tony Sycamore. "We are in a very, very tricky period. It doesn't make sense to chase risks at this time."

On other fronts, the US dollar is nearing a three-month high as the Federal Reserve's favored employment indicator, the JOLTS Job Openings Report, is set to be released on Tuesday, and the highly anticipated non-farm payroll data is due on Friday. US bond yields have eased slightly from a three-month high.

The US dollar remained relatively stable against six major currencies, including the yen and euro, with the US dollar index at 104.29, touching 104.57 earlier, the highest level since last Wednesday and the highest since July 30th. The euro held at $1.0811, while the pound dipped slightly by 0.05% to $1.29655.

Recent strong US economic data, including a robust job market performance, have somewhat weakened market expectations of Fed policy easing this year, thereby supporting the US dollar.

After experiencing a sharp decline on Monday, the yen rebounded on Tuesday, as the uncertain outlook for the Japanese government following the weekend election results. As a result, the Nikkei 225 index adopted a wait-and-see attitude at the opening, and then continued the previous day's upward trend.

The US dollar fell 0.23% against the Japanese yen to 152.92 yen, while on Monday it hit its highest level since July 31 at 153.885 yen.

In Japan, Prime Minister Shizo Abe's Liberal Democratic Party and its junior partner, Komeito, lost their majority in parliament, potentially requiring future coalition talks, which could lead to higher fiscal spending and increase the difficulty for the Bank of Japan to push for interest rate normalization.

The opposition party leader of the Democratic Party for the People stated on Tuesday that the central bank should not drastically adjust its ultra-loose monetary policy amid the current stagnation in real wage growth. The Bank of Japan is expected to decide on policy on Thursday, with no changes anticipated.

The yield on 10-year US Treasury bonds fell to 4.2661% on Tuesday after hitting its highest level since July 11 at 4.3% the night before.

"We expect expectations of a Trump victory and the narrative of strong US economic performance to continue to dominate the financial markets, thereby supporting US bond yields and the US dollar," said Carol Kong, forex strategist at the Reserve Bank of Australia.

As the US election enters its final stages, poll results remain tight, although some betting platforms and financial markets lean towards Republican candidate Trump winning over Democratic candidate Kamala Harris.

With regard to commodities, due to the lack of further deterioration in the Middle East situation, crude oil prices plummeted on Monday. Brent crude oil futures fell by 0.18% to $71.29 per barrel, while US WTI crude oil fell by 0.19% to $67.25 per barrel, both dropping 6% on Monday, hitting their lowest levels since October 1.

Gold rose by 0.5% to around $2755, approaching last week's historical high of $2758.37.