Asia-Pacific markets traded mixed on Tuesday as Japan reportedly announced its nomination of Kazuo Ueda as the new Bank of Japan governor, according to Reuters. He is set to succeed incumbent head Haruhiko Kuroda, if confirmed by the country’s parliament.
Following the appointment, the Nikkei 225 index regained 175.45 points, or 0.6%, to 27,607.77, while the Japanese yen strengthened to 131.90 against the U.S. dollar.
Japanese conglomerate Toshiba cut its operating income forecasts after it recorded a loss in its third quarter, trimming its full year operating income estimates from 120 billion yen ($909.7 million U.S.) to 95 million yen.
The company reported a 16.6-billion yen net loss for its third quarter from October to December 2022, a reversal from the 55.12 billion yen in net profit recorded in the same period a year ago.
In Hong Kong, the Hang Seng Index shed 50.66 points, or 0.2%, to 21,113.76.
Australian markets forged ahead as investors digested the results of National Australia Bank’s business confidence survey.
Integrated resort development company Genting Singapore was the top gainer on the STI, having gained 2%, while airline ground handler and food catering services provider SATS led the losses as it slid 6.3%.
Singapore is set to release its budget for 2023 later today.
The budget is expected to focus on inflation and the cost of living, as well as more support for vulnerable and lower income groups.
In other markets
The Shanghai CSI 300 nicked up 1.72 points to 4,145.29.
In Korea, the Kospi recovered 12.94 points, or 0.5%, to 2,465.64.
In Singapore, the Straits Times dropped 6.5 points, or 0.2%, to 3,318.20.
In Taiwan, the Taiex restocked 110.2 points, or 0.7%, to 15,654.48.
In New Zealand, the NZX 50 removed 0.71 points to 12,074.47.
In Australia, the ASX 200 reattached 13.11 points, or 0.2%, to 7,430.86.
