Equities in Asia were mixed on Tuesday as investors awaited central bank decisions in Japan and Australia. Markets in Shanghai remained closed for holidays and will resume trade on Wednesday.
Neither the Bank of Japan (BOJ) nor the Reserve Bank of Australia (RBA) is expected to take action at their respective policy reviews, so attention will likely fall on their policy statements. Investors may watch if BOJ governor Kuroda addresses recent weak economic data, while the RBA will be watched for any comments about the housing market and sliding commodity prices.
A weaker U.S. dollar also featured in Asia’s trading session. The greenback extended losses on Tuesday after posting its biggest one-day decline in a year overnight. Central banks also weighed on U.S. trade. Stocks fell on Monday as investors adopted a cautious approach before the release of minutes from the Federal Reserve’s last meeting on Wednesday, with the bank on track to conclude bond purchases this month.
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