SINGAPORE – Asia Pacific stocks were mixed in trading on Tuesday as data showed China’s August trading data was above expectations.
The Shanghai composite in mainland China gained 0.77%, while the Shenzhen share rose 0.398%.
China’s exports rose 25.6% yoy in August, customs data on Tuesday showed – above analysts’ expectations in a Reuters poll of 17.1%.
Hong Kong’s Hang Seng index gained 0.61%.
The stocks of retailers listed in the city surged after Bloomberg reported that Hong Kong will allow quarantine-free entry to mainland visitors from September 15. Chow Sang Sang rose 3.8% while Giordano International rose 2.6% and Sa Sa International rose 5.26%.
Japan’s Nikkei 225 rose 0.86% while the Topix index rose 1%, with the country’s stocks continuing to climb after two consecutive days of trading with solid gains. This comes as investor sentiment is bolstered by the prospect of further stimulus reportedly being called for by Prime Minister candidate Fumio Kishida.
Elsewhere, the South Korean Kospi lost 0.7% while the S & P / ASX 200 in Australia lost 0.24%.
MSCI’s broadest index for Asia Pacific stocks outside of Japan was below the flatline.
Elsewhere, the South Korean Kospi lost 0.7% while the S & P / ASX 200 in Australia lost 0.24%.
MSCI’s broadest index for Asia Pacific stocks outside of Japan was below the flatline.
RBA rate decision
The Reserve Bank of Australia announced on Tuesday that it would stick to its cash rate target.
In a statement, Australia’s Central Bank Governor Philip Lowe also said the RBA will buy bonds at a price of A $ 4 billion (about $ 2.98 billion) a week until at least February 2022.
In August, when the plan was announced to reduce bond purchases from A $ 5 billion to A $ 4 billion in early September, Lowe had announced that the new weekly bond purchases would last at least until mid-November.
Following that announcement, the Australian dollar changed hands at $ 0.7449 from an earlier low of $ 0.7431.
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Markets in the US were closed on Monday for a public holiday.
Currencies and oil
The US dollar index, which tracks the greenback versus a basket of its peers, came in at 92.126, still off the 92.4 level it hit last week.
The Japanese yen was trading at 109.78 the dollar, stronger than the 110.1 levels seen against the greenback last week.
Oil prices were mixed on the afternoon of Asian trading hours, with the international benchmark Brent crude oil futures rising 0.47% to $ 72.56 a barrel. U.S. crude oil futures declined 0.19% to $ 69.16 a barrel.
