Asia-Pacific markets were mixed as investors further assessed the Reserve Bank of Australia’s decision to hold its rates steady at 4.10%.
In Japan, the Nikkei 225 tumbled 330.81 points, or 1%, to 33,452.52, retreating from a 33-year high recorded on Monday.
In Hong Kong, the Hang Seng gained 109.09 points, or 0.6%, to 19,415.68, led by energy and industrial stocks.
Korean stocks fell, as the country’s consumer price index grew at a slower rate of 2.7% in June. The latest reading marked a fifth straight month of decline, inching closer to the central bank’s target range.
The Australian dollar weakened 0.3% to 0.665 against the U.S. dollar.
Economists were split on expectations ahead of the decision, with 16 out of 31 respondents surveyed by Reuters forecasting a hike of 25 basis points and 15 expecting the central bank to hold.
Stocks cheered the move as the central bank said inflation in the economy has “passed its peak.”
In other markets
The CSI 300 nicked up 6.13 points, or 0.2%, to 3,899.01.
In Singapore, the Straits Times Index lost 3.3, or 0.1%, to 3,203.77.
In Korea, the Kospi Index dropped 9.16 points, or 0.4%, to 2,599.31.
In Taiwan, the Taiex index picked up 56.57 points, or 0.3%, to 17,140.77.
In New Zealand, the NZX 50 added 63.47 points, or 0.5%, to 11,980.34.
In Australia, ASX 200 hiked 32.92 points, or 0.5%, to 7,279.04.
