London, UK – European stock markets showed a positive trend on Tuesday as the FTSE 100 in the UK hit a record high. The Stoxx 600 index rose by 0.5% at 8:40 a.m. London time, with France’s CAC 40 up 0.2% and Germany’s DAX up 0.7%.

In Hong Kong, Chinese bubble tea company Chabaidao, also known as Sichuan Baicha Baidao Industrial, faced a difficult trading debut. The company’s shares opened 10% lower and fell over 30% during early trading, currently trading at HK$12.32, which is below its IPO offer price of HK$17.50. Chabaidao’s IPO is the largest listing in Hong Kong this year, raising 2.59 billion Hong Kong dollars from the global offering.

The Japanese yen weakened significantly against the U.S. dollar, reaching a 34-year low of 154.85. Despite this, the currency slightly strengthened to 154.74 by 9:18 a.m. Tokyo time. The Bank of Japan will closely monitor the yen as it meets later in the week.

Down under in Australia, business activity has seen significant growth, with S&P Global reporting that the country’s composite purchasing managers index reached 53.6 in April, the highest in 24 months. While manufacturing PMI increased to 49.9 from 47.3, services PMI saw a slight dip to 54.2 from 54.4.

In the United States, stock futures opened with little change, indicating a potential stable market ahead. Investors are eagerly awaiting the release of March’s new home sales data, with economists predicting a 1.2% increase from the previous month’s 0.3% decline. The data is set to be released at 10 a.m. ET on Tuesday.