Asian markets mixed after Dow falls into bear market

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After finishing largely lower on Wall Street, where the Dow Jones Industrial Average entered a "bear market," stocks were divided in Asia on Tuesday.

The Nikkei 225 index in Tokyo increased by 0.8%, while the S&P/ASX 200 in Sydney increased by 0.2%. While Hong Kong's Hang Seng index fell 0.9%, the Shanghai Composite index increased 0.2%. 

Stock prices have been declining due to worries about persistently high inflation and the possibility that central banks may start recessions in an effort to lower sky-high prices for everything from food to clothing.

Early on Tuesday, the Japanese yen moved closer to 145 to the dollar. As the yen slid past 145 last week, the Bank of Japan intervened in the market, obtaining a momentary reprieve.

The pound increased from $1.0686 late on Monday to $1.0765 today. The price of the dollar fell to 144.49 yen from 144.65 yen while the price of the euro increased to 96.29 cents from 96.10 cents.

Investors are eagerly awaiting the upcoming round of earnings reports as companies approach the end of the third quarter. They will have a better understanding of how businesses are coping with ongoing inflation as a result.

This week will see the release of a number of economic statistics that will provide further information on consumer spending, the job market, and the overall state of the American economy.

The Fed increased its benchmark rate, which has an impact on many consumer and commercial loans, once again last week in an effort to make borrowing more expensive and restrain spending.

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