Asian stock markets follow economic data from the region
Asian markets continue their gains on interest rate cut optimism; The RBA kept interest rates steady.
Asia-Pacific markets rose on Tuesday, extending gains from the previous session as Wall Street rose overnight on expectations that the Fed will cut interest rates.
In Asia, the Reserve Bank of Australia kept benchmark lending rates at 4.35 percent in its fourth consecutive meeting, as expected.
Australia’s S&P/ASX 200 index rose 1.02 percent following the decision, on track to gain for the fourth consecutive day.
Australia’s S&P/ASX 200 index was on track for a fourth straight day of gains, up 0.38 percent ahead of the decision.
In South Korea, the Kospi rose 1.8 percent to its highest level in a month as trading resumed after the public holiday. Small-cap Kosdaq rose 0.61 percent.
Japan’s Nikkei 225 index also continued to trade with a 1 percent increase after the holiday, while the broad-based Topix gained 0.19 percent.
While Hong Kong’s Hang Seng index rose by 0.31 percent, China’s CSI 300 index remained flat.