Asian Market Review
Asian markets are trading mixed on Tuesday morning as investors await Australian retail sales data, and the interest rate decision from the Reserve Bank of Australia, both due later today.
In Australia the S&P/ASX 200 has a loss of 0.1% and has been trading slightly lower for most of the session as investor caution is ruling sentiment ahead of the interest rate decision from the RBA. Most sectors are trading lower, but that’s being offset by gains from the big four banks, with ANZ trading 0.3% higher, NAB gaining 0.4%, Commonwealth Bank up by 0.2%%, and Westpac rising 0.7%.
In Japan the Nikkei trades 0.1% lower as well, with a weaker Yen helping support shares of Japanese multinationals. Shares of Sony have jumped 1.3% higher, while Softbank has a 0.4% gain, and Toyota trades up by 0.8%.
Mainland China is seeing a mixed performance at the open, with the large cap Shanghai Composite down 0.1%, but the smaller cap Shenzhen Composite holding a 0.2% gain. Over in Hong Kong the Hang Seng is trading down by 0.1% at the open as well, with more protests expected today. Carrie Lam, the leader of Hong Kong, on Monday said she would resign if she had a choice as her response to the protests is “very limited.”
In South Korea the Kospi trades up by 0.2%, leading gains in the region, while the Taiex in Taiwan is unchanged as markets there are closed for a public holiday.
Southeast Asian markets trade mixed as well, with Singapore’s Straits Times posting a small 0.1% gain, but the KLCI in Malaysia opening to a 0.4% loss.
