Asia-Pacific markets traded mixed Tuesday, a day after Chinese President Xi Jinping signaled support to the country’s private sector and urged businesses to “show their “talents.”
In Japan, the Nikkei 225 index gained 96.15 points, or 0.3%, to 39,270.40.
In Hong Kong, the Hang Seng index leaped 360.58 points, or 1.6%, to 22,976.81, reversing course from the losses in the previous session after Xi’s comments in a rare closed-door symposium.
Australia markets took a step backwards after the Reserve Bank of Australia cut rates by 25 basis points to 4.1%, in line with Reuters’ estimates. This marks the RBA’s first rate cut in over four years.
The Australian dollar had weakened marginally by 0.02% to 0.6354 against the U.S. dollar.
The yields on Australian 10-year government bonds have dropped nearly 20 basis points since Jan. 13 to 4.450% on Tuesday
Singapore’s first budget with Lawrence Wong as prime minister is currently being tabled in the parliament.
In other markets
The CSI 300 in mainland China settled 34.62, or 0.9% to 3,912.78
In Taiwan, the Taiex index climbed 160.78 points, or 0.7%, to 23,666.11.
In Singapore, the Straits Times index took on 20.71 points, or 0.5%, to 3,925.56
In Korea, the Kospi index notched higher 16.39 points, or 0.6%, to 2,626.81.
In New Zealand, the NZX 50 faded 17.81 points, or 0.1%, to 13,051.13
In Australia, the ASX 200 shed 56.10 points, or 0.7%, to 8,481.01.
