Asia-Pacific markets fell across the region on Tuesday as the Bank of Japan kicked off its two-day monetary policy meeting.
In Japan, the Nikkei 225 index gained 57.32 points, or 0.2%, to 38,525.95.
The BOJ is expected to raise its benchmark interest rate and trim its Japanese government bond purchases. Economists polled by Reuters expect the bank to increase its benchmark interest rate to 0.1%, up from the current range of 0% to 0.1%. Japan’s unemployment rate came in slightly lower than expected in July, at 2.5% compared to the 2.6% forecast by a Reuters poll of economists.
In Hong Kong, the Hang Seng index fell 235.43 points, or 1.4%, to 17,002.91.
In Hong Kong, shares of banking giant Standard Chartered climbed 4.84% after it announced its largest ever buyback of $1.5 billion and upgraded its 2024 income guidance during its first-half results.
Australian markets lost strength. Heavyweight miner Fortescue fell by as much as 10.27% to a more than 20-month low after the Australian Financial Review reported that JPMorgan’s equity capital markets team was looking for buyers for 1.9 billion Australian dollars ($1.2 billion) of discounted Fortescue stock on behalf of an undisclosed institutional investor.
In other markets
In Shanghai, the CSI 300 lost 21.36 points, or 0.6%, to 3,369.83.
In Taiwan, the Taiex index improved 59.08 points, or 0.3%, to 22,223.57.
In Singapore, the Straits Times Index docked 2.41 points, or 0.1%, to 3,441.77.
In Korea, the Kospi index sagged 27.34 points, or 1%, to 2,738.19.
In New Zealand, the NZX 50 recovered 77.42 points, or 0.6%, to 12,391.05.
In Australia, the ASX 200 dropped 36.46 points, or 0.5%, to 7,953.18.
