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6/7/2016, 8:36 AM (Source: TeleTrader)
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Asian markets see a day of decent gains

Stock markets in Asia-Pacific provided a mixed picture on Tuesday, with Japanese index inching up, while Chinese stocks were almost flat. The Reserve Bank of Australia left the key interest rate unchanged at 1.75%, which boosted the Australian dollar. The markets in the region are still sifting through latest speech from the U.S. Federal Reserve chairwoman Janet Yellen, who said interest rates should be raised but stopped short of saying when it should happen.

Australian S&P/ASX 200 and the All Ordinaries indexes were up 0.20% following the RBA interest rate announcement. The Australian dollar gained 0.93% against the U.S. dollar, and was 1.03% stronger compared to the Japanese yen by 8:20 a.m. CET.

Earlier, New Zealand's S&P/NZX 50 finished 0.18% higher, with the NZ dollar dropping 0.83% against its Australian counterpart following the interest rate decision in Australia, and got 0.21% stronger versus the Japanese yen.

In Japan, the Nikkei 225 added 0.44% and the Topix was up 0.63%.

Korean Kospi rose 1.30% and the Kosdaq added 0.48% following a holiday on Monday. South Korea's industrial output fell 2.8% from a year earlier, down from a 0.6% year-on-year fall in March. Exports fell 6% year-on-year in May. The retail sales index gained 4.2% in April, slightly down from a 5.7% on-year growth seen in March, said the Korea Development Institute (KDI).

The main Chinese indexes diverged: Shanghai's SSE Composite edged down 0.07% and Shenzhen’s SZSE Composite inched up 0.06%. In Hong Kong, the HSI rose 0.78%. The U.S. dollar was flat compared to the HK dollar, which in turn rose 0.11% against the Japanese yen, but fell 0.91% against the surging Australian dollar.

Singapore's Straits Times Index was up 0.65%. The SG dollar lost 0.13% to the U.S. dollar and was 0.02% weaker to the Japanese yen by 8:35 a.m. CET.

In Mumbai, the BSE Sensex rose 0.47% and the NSE's Nifty 50 followed up 0.46% after the Reserve Bank of India decided not to change key rates. Banks were the most prominent gainers on both exchanges.

 

Image: EPA / Raminder Pal Singh

Breaking the News / ZR