Asia-Pacific stocks mixed; Australia central bank rate decision ahead

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SINGAPORE — Stocks in Asia-Pacific traded mixed on Tuesday morning as investors looked ahead to the Reserve Bank of Australia’s latest interest rate decision.

The Nikkei 225 in Japan slipped 0.66% in early trade while the Topix index shed 0.59%. South Korea’s Kospi hovered above the flatline.

In Australia, the S&P/ASX 200 nudged fractionally higher.

MSCI’s broadest index of Asia-Pacific shares outside Japan traded little changed.

Looking ahead, the Australian central bank is set to announce its interest rate decision at 12:30 p.m. HK/SIN on Tuesday.

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Overnight on Wall Street, the Dow Jones Industrial Average declined 97.31 points to 34,838.16 while the S&P 500 slipped 0.18% to 4,387.16. The Nasdaq Composite edged fractionally higher to 14,681.07.

Concerns over Covid are weighing on investor sentiment. The CDC director said Monday that the seven-day average of daily coronavirus cases in the U.S. surpassed the peak seen last summer, when the country didn’t have an authorized Covid-19 vaccine.

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