Asian markets open mixed ahead of big tech earnings

July 21, 2026 (MLN): Asian markets traded mixed on Tuesday as investors remained cautious ahead of a busy earnings calendar and continued to assess geopolitical developments alongside elevated oil prices.

Japan led regional gains, with the Nikkei 225 rising 0.8% and the Topix advancing 0.86% in early trade. South Korea's Kospi edged up 0.1%, while the tech-heavy Kosdaq slipped 0.72%. Australia's S&P/ASX 200 declined 0.58%, according to CNBC.

Investor sentiment remained restrained after oil prices climbed in the previous session following U.S. President Donald Trump's remarks that Iran would be held accountable for the deaths of three American service members.

The rise in crude prices weighed on broader market sentiment, although semiconductor shares showed signs of recovery after last week's sell-off. The VanEck Semiconductor ETF (SMH) posted modest gains, supported by advances in Micron Technology and Advanced Micro Devices (AMD).

Market participants are now turning their attention to a packed corporate earnings schedule, with results expected from major technology companies including Alphabet, IBM, and Tesla later this week.

Investors will closely watch management commentary for updates on artificial intelligence spending and business expectations for the second half of the year.

On Tuesday, General Motors and 3M are scheduled to report before the U.S. market opens, while Chubb will release its quarterly earnings after the closing bell.

Earnings reports, technical factors, and geopolitical developments are expected to drive market movements as investors navigate a period of elevated bond yields and lingering uncertainty.

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