(MENAFN– ecpulse)
Although Japanese shares hit a six-year closing high on Tuesday on weaker yen, the rest of Asia ended mostly lower after the strong US manufacturing data fueled speculation that the Federal Reserve will soon start tapering its monetary stimulus.
- The MSCI Asia Pacific Index ex. Japan fell 0.6% to 471.58 as of 15:04 in Tokyo
Nikkei hit a six-year closing high after the Bank of Japan chief Haruhiko Kuroda said the central bank is “ready to adjust monetary policy without hesitation if risks materialize”, pushing the yen to a new 6-month low at 103.37.
- Nikkei 225 closed 0.60% higher at 15749.66
- Topix closed 0.29% higher at 1262.54
In China the shares reversed losses to climb higher thanks to a rally in infrastructure stocks while property shares advanced after a private survey showed new home prices continued to rise. In South Korea shares fell due to a sharp decline in automakers.
- China’s CSI 300 Index closed 0.99% higher at 2442.78
- Hong Kong’s Hang Seng closed 0.53% lower at 23910.47
- Kospi closed 1.05% lower at 2009.36
In Australia the benchmark index closed at a new 7-week low after the Reserve Bank of Australia left the interest rate steady at a record low of 2.5% while the economic data turned out mixed, with the current account deficit widening and the retail sales rising.
- The S&P/ASX 200 closed 0.44% lower at 5256.07
- New Zealand’s NZX 50 closed 0.18% lower at 4783.85
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