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Asia Mixed as Japan Punished

Shares in Asia-Pacific were mixed on Tuesday as China kept its benchmark lending rate unchanged.

The Nikkei 225 dumped 584.99 points, or 2%, to 29,100.38.

The Japanese yen traded at 108.32 per U.S. dollar after strengthening from above 108.6 against the greenback yesterday.

In Hong Kong, the Hang Seng index gained 29.58 points, or 0.1%, to 29,135.73.

The Australian dollar changed hands at $0.7814, having climbed from below $0.774 yesterday.

CHINA

On the economic data front, China on Tuesday kept the one-year loan prime rate (LPR) unchanged at 3.85% and five-year LPR at 4.65%. That was in line with predictions from a majority of traders and analysts in a Reuters poll, who had expected no change to either the one-year or five-year LPR.

In Shanghai, the CSI 300 docked 3.65 points, or 0.1%, to 5,083.37

In other markets

In Singapore, the Straits Times index subtracted 17.55 points, or 0.6%, to 3,192.17.

In Korea, the Kospi index added 21.86 points, or 0.7%, to 3,220.70.

In Taiwan, the Taiex index leaped 60.59 points, or 0.4%, to 17,323.87

In New Zealand, the NZX 50 ditched 89.28 points, or 0.7%, to 12,678.56.

In Australia, the ASX 200 retreated 47.87 points, or 0.7%, to 7,017.77.