Asia Pacific stocks trade higher; Reserve Bank of Australia’s interest rate decision awaited
Stocks in Asia Pacific traded higher Tuesday morning as investors await the Reserve Bank of Australia’s decision on interest rates.
Japanese stocks, which led gains among the region’s major markets on Monday, continued to move upward in Tuesday morning trade. The Nikkei 225 gained 1.04% while the Topix index advanced 1.34%.
South Korea’s Kospi also gained 1.03%.
Meanwhile, the S&P/ASX 200 in Australia jumped 1.01%. Australia’s retail sales data for June is expected to be released at around 9:30 a.m. HK/SIN on Tuesday.
Overall, the MSCI Asia ex-Japan index traded 0.32% higher.
Investors will watch for the Australian central bank’s rate decision, expected to be announced around 12:30 p.m. HK/SIN on Tuesday. That comes as social distancing measures have been ramped up in the Australian state of Victoria to contain the coronavirus.
Reference: CNBC
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