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Shares in Asia mixed with RBA slated to unveil interest rate views

Published 09/05/2017, 12:09 AM
Updated 09/05/2017, 12:09 AM
© Reuters.  Asian shares mixed

Investing.com -- Asian shares were mixed on Tuesday at the lunch break with the Australian central bank due later to detail its stance on interest rates and North Korea a now ever-present backdrop.

Japan's Nikkei 225 fell 0.71% on a stronger yen, while the Kospi edged down 0.21 in Asia on Tuesday. In Australia, solid current account data and a good reading for the China Caixin services PMI failed to lift the S&P/ASX 200, which fell 0.20%.

Japanese automakers were mixed despite posting solid August sales figures in China. Toyota sales in the country rose 13.2% in August compared to a year ago

Tensions on the Korean Peninsula remained in focus even as markets recovered slightly. The U.S. on Monday called for the "strongest possible" sanctions to be imposed on North Korea a day after the North said it had tested a hydrogen bomb. President Donald Trump also spoke to South Korean President Moon Jae-in on the phone, during which he gave "conceptual approval" for South Korea to purchase billions of dollars in weapons from the U.S.

In Greater China, the Shanghai Composite rose 0.20%, while the Hang Seng index in Hong Kong gained 0.22%.

In Asia, Australia reported its current account came in at a surplus of A$9.6 billion, wider than the A$8.1 billion surplus seen in the second quarter. China's Caixin services PMI for August also jumped to 52.7, compared with a reading of 51.8 expected.

The RBA interest rate decision is expected to see the central bank hold steady at a record low 1.50%.

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U.S. markets were shut on Monday for the Labor Day holiday.

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