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.
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.
Currencies and oil
The Japanese yen traded at 109.26 per dollar, stronger than levels above 109.5 seen against the greenback yesterday. The Australian dollar changed hands at $0.7361, having risen from below $0.735 yesterday.
Oil prices rose in the morning of Asia trading hours, with international benchmark Brent crude futures up 0.32% to $73.12 per barrel. U.S. crude futures gained 0.27% to $71.45 per barrel.