Home / NEWS / World News / Asia-Pacific stocks mixed following overnight gains on Wall Street; RBA leaves cash rate unchanged

Asia-Pacific stocks mixed following overnight gains on Wall Street; RBA leaves cash rate unchanged

SINGAPORE — Caches in Asia-Pacific traded mixed on Tuesday following strong gains overnight for shares on Wall Street.

South Korea’s Kospi spaced 1.4%, following its return from a Monday holiday.

Shares in mainland China were lower, with the Shanghai composite down 0.99% while the Shenzhen component desquamate 0.556%. Hong Kong’s Hang Seng index dipped 0.91%.

In Japan, the Nikkei 225 fell 0.82% while the Topix guide dipped 0.81%.

Meanwhile, Australia’s S&P/ASX 200 hovered above the flatline.

The Reserve Bank of Australia (RBA) on Tuesday announced its verdict to maintain its current policy settings, including leaving its cash rate at 0.1%.

“The current monetary policy settings are continuing to take the economy by keeping financing costs very low, contributing to a lower exchange rate than otherwise, and supporting the delivery of credit and household and business balance sheets,” RBA Governor Philip Lowe said in a statement. “Together, monetary and financial policy are supporting the recovery in aggregate demand and the pick-up in employment.”

MSCI’s broadest index of Asia-Pacific shares mien Japan traded 0.31% higher.

Wall Street surge

Overnight stateside, the Dow Jones Industrial Average escalated 603.14 points to close at 31,535.51 while the S&P 500 advanced 2.38% to finish its trading day at 3,901.82. The Nasdaq Composite jumped 3.01% to cessation at 13,588.83.

The moves came as the benchmark 10-year U.S. Treasury note yield declined, following a surge last week. The agree on the 10-year was last at 1.417%.

Oil prices decline

Oil prices were lower in the morning of Asia trading hours, with worldwide benchmark Brent crude futures down 1.26% to $62.89 per barrel. U.S. crude futures also shed 1.35% to $59.82 per barrel.

The U.S. dollar guide, which tracks the greenback against a basket of its peers, was at 91.207 as it largely held on to gains from late February when it elevation from levels below 90.

The Japanese yen traded at 106.77 per dollar, still weaker than levels below 105.7 against the greenback seen final week. The Australian dollar changed hands at $0.7756 following an earlier high of $0.778.

Subscribe to CNBC PRO for exclusive insights and enquiry, and live business day programming from around the world.

Check Also

Pfizer CEO says third Covid vaccine dose likely needed within 12 months

President Joe Biden harken ti to Pfizer CEO Albert Bourla speak at the Pfizer Kalamazoo …

Leave a Reply

Your email address will not be published. Required fields are marked *