Most Asia Markets Rise

Shares in the Asia-Pacific mostly rose on Tuesday as the Reserve Bank of Australia hiked interest rates in line with expectations.

In Japan, the Nikkei 225 gained 269.66 points, or 1%, to 26,423.47.

Japan’s services activity expanded at the fastest pace since October 2013, according to the final au Jibun Bank Japan Services Purchasing Managers’ Index. The print rose to 54, compared to 52.6 in May.

The Japanese yen traded at 136.21 per U.S. dollar, after briefly weakening past 137 against the greenback last week.

In Hong Kong, the Hang Seng index regained 22.72 points, or 0.1%, to 21,853.07.

Elsewhere in the region, South Korean data released Tuesday showed the consumer price index in June rose 6% compared with the same period a year ago.

That is slightly higher than the expected 5.9% increase and the fastest annual rise since November 1998, according to Reuters.

The Reserve Bank of Australia raised interest rates by 50 basis points to 1.35% today as predicted. The Australian dollar fell after the RBA decision was announced, and last traded at $0.6854.

CHINA

Mainland China markets bucked the trend.

In Shanghai, the CSI 300 stepped back 6.49 points, or 0.1%, to 4,489.54.

U.S. Treasury Secretary Janet Yellen and China’s Vice Premier Liu He held a virtual call on Tuesday to discuss macroeconomic issues.

China’s service sector activity also grew, according to the Caixin services purchasing managers’ index. The index rose to 54.5 in June compared to 41.4 in May as COVID measures were eased.

In company news, a group of lawmakers in the U.K. are reportedly calling for a ban on Chinese CCTV makers Hikvision and Dahua over alleged links to human rights abuses.

In other markets

In Singapore, the Straits Times Index dropped 16.13 points, or 0.5%, to 3,104.11.

In Taiwan, the Taiex restored 132.14 points, or 0.9%, to 14,349.20.

In Korea, the Kospi surged 41.44 points, or 1.8%, to 2,341.78.

In Australia, the ASX 200 added 16.77 points, or 0.3%, to 6,629.33.

In New Zealand, the NZX zoomed 102.83 points, or 1%, to 10,965.16.