Investing.com - " Asian stocks were mixed during Tuesday's
session amid fear's China is considering a more stringent approach
to monetary policy.
In Asian trading Tuesday, Japan's Nikkei 225 was flat despite a
press report out earlier in the session that indicates economists
are doubtful the country can reach 2% inflation by 2015.
Meeting that goal is a cornerstone of Prime Minister Shinzo Abe's
efforts to jolt the world's third-largest economy.
Hong Kong's Hang Seng lost 0.60% while the Shanghai Composite
dropped 0.40% on reports that developers in some major Chinese
cities will not be allowed to raise property prices before the end
of this year.
Reports also emerged that banks in some Chinese cities are
requiring higher down payments for investment properties. China's
four mega banks are dealing with the largest level bad loans in
Australia's S&P/ASX climbed 0.72% after the Reserve Bank of
Australia kept interest rates at 2.5%. Though no rate cut was
expected, RBA surprised markets by not including language in its
statement that implied rates are not off the table.
"In Australia, the economy has been growing a bit below trend over
the past year and the unemployment rate has edged higher. This is
likely to persist in the near term, as the economy adjusts to lower
levels of mining investment. Further ahead, private demand outside
the mining sector is expected to increase at a faster pace, though
considerable uncertainty surrounds this outlook," said RBA Governor
Glenn Stevens in a statement.
New Zealand's NZSE 50 rose 0.57% while South Korea's Kospi dipped
0.67% as traders continued to lock in profits after a recent surge
in South Korean shares.
Singapore's Straits Times Index gained 0.27% while S&P 500
futures inched down 0.02% a day after the benchmark U.S. index rose
offers an extensive set of professional tools for the financial
Read more News on Investing.com and download the new Investing.com
Stocks & Finance App