(fxcue news) - Asian stock markets are trading mixed on Tuesday, following the broadly negative cues from Wall Street overnight, as traders remain cautious and concerned about a global trade war while they await signs of progress from US President Donald Trump's trade talks. Potentially adding to the worries, China has threatened to retaliate against any countries that reach a trade deal with the U.S. at the expense of China's interests. Asian markets closed mixed on Monday. Some reports suggest that the Trump administration is preparing to put pressure on other countries to restrict trade with China in exchange for U.S. tariff exemptions. The Australian stock market is trading slightly lower on Tuesday, reversing some of the gains in the previous session, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is staying well below the 7,800 level, with weakness across most sectors led by technology stocks. Gold stocks were the only bright spot. The benchmark S&P/ASX 200 Index is losing 1.20 points or 0.02 percent to 7,817.90 after hitting a low of 7,745.10 earlier. The broader All Ordinaries Index is down 7.00 points or 0.09 percent to 8,014.90. Australian stocks closed significantly higher on Thursday ahead of the holidays on Friday and Monday. Among the major miners, BHP Group and Fortescue Metals are edging down 0.2 to 0.4 percent each, while Rio Tinto is edging up 0.1 percent and Mineral Resources is gaining more than 1 percent. Oil stocks are mostly lower. Origin Energy and Santos are losing almost 1 percent each, while Woodside Energy is declining almost 2 percent and Beach energy is down more than 1 percent. Among tech stocks, Afterpay owner Block is slipping more than 5 percent, Zip is declining almost 5 percent, Xero is down more than 1 percent and WiseTech Global is losing almost 2 percent, while Appen is gaining almost 1 percent. Gold miners are mostly higher. Evolution Mining is gaining 1.5 percent, Gold Road Resources is up almost 1 percent, Northern Star resources is adding more than 1 percent and Resolute Mining is surging almost 6 percent, while Newmont is losing more than 1 percent. Among the big four banks, National Australia Bank, ANZ Banking and Westpac are losing almost 1 to 0.2 percent each, while Commonwealth Bank is edging down 0.1 percent. In the currency market, the Aussie dollar is trading at $0.642 on Tuesday. The Japanese stock market is trading slightly lower on Tuesday, extending the losses in the previous session, following the broadly negative cues from Wall Street overnight, with the Nikkei 225 falling to stay below the 34,300 level, with weakness in exporters, technology and financial stocks. The benchmark Nikkei 225 Index closed the morning session at 34,255.71, down 24.21 points or 0.07 percent, after hitting a low of 34,109.85 earlier. Japanese shares ended sharply lower on Monday. Market heavyweight SoftBank Group is flat and Uniqlo operator Fast Retailing is edging up 0.1 percent. Among automakers, Honda is gaining almost 1 percent and Toyota is edging up 0.1 percent. In the tech space, Advantest is slipping almost 1 percent and Tokyo Electron is losing more than 1 percent, while Screen Holdings is edging up 0.4 percent. In the banking sector, Mitsubishi UFJ Financial is edging down 0.2 percent, while Sumitomo Mitsui Financial and Mizuho Financial are losing almost 1 percent each. The major exporters are mostly higher. Canon and Mitsubishi Electric are losing almost 1 percent each, while Sony is declining more than 1 percent and Panasonic is edging 0.1 percent. Among the other major losers, Fujikura and BayCurrent are losing almost 3 percent each. Conversely, Disco, Hino Motors and Oji Holdings are gaining almost 3 percent each. In the currency market, the U.S. dollar is trading in the higher 140 yen-range on Tuesday. Elsewhere in Asia, Singapore is up 1.1 percent, while China, South Korea and Indonesia are higher by between 0.1 and 0.3 percent each. New Zealand, Hong Kong, Malaysia and Taiwan are lower by between 0.4 and 1.1 percent each. On Wall Street, stocks showed a substantial move to the downside during trading on Monday after turning in a lackluster performance to close out the previous week. The major averages all moved sharply lower, with the Dow adding to the steep loss posted last Thursday. The major averages climbed off their worst levels going into the end of the day but remained firmly negative. The Nasdaq plunged 415.55 points or 2.6 percent to 15,870.90, the Dow tumbled 971.82 points or 2.5 percent to 38,170.41 and the S&P 500 slumped 124.50 points or 2.4 percent to 5,158.20. Meanwhile, the major European markets were closed on the day in honor of Easter Monday. Crude oil prices pulled back sharply Monday on reports of progress in negotiations between the U.S. and Iran, while trade war concerns also weighed. West Texas Intermediate crude for May delivery plunged $1.60 or 2.5 percent to $63.08 a barrel.