Asian equities were mixed on Tuesday as investors reacted to the latest flare-up of tensions in the South China Sea and the prospect of further monetary easing in Europe.
Early on Tuesday, Reuters reported that the head of Vietnam’s coastguard accused China of sinking another one of its fishing vessels in the disputed waters of the South China Sea. There has been no immediate comment from Beijing regarding the incident.
Meanwhile, expectations for a rate cut from the European Central Bank (ECB) rose after president Mario Draghi said in a speech on Monday that the central bank must be prepared to take action if risks posed by low inflation emerge.
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