Shares in Asia-Pacific markets continued a mixed session on Tuesday morning after China pledged to take further steps to bolster its economy on Monday, while traders awaited more clarity ahead of a series of central bank meetings.
As of 9.28 a.m. Thai time, Japan’s Nikkei 225, the Kospi in South Korea and the S&P/ASX 200 in Australia were all flat.
The Hang Seng index in Hong Kong lost 0.24%, while mainland China’s Shanghai Composite added 0.44%.
On Monday (September 5), Chinese policymakers sent a signal of renewed urgency for efforts to shore up a failing economy, saying this quarter was a vital period for policy action as data pointed to a further loss of economic momentum, as reported by Reuters.
To prop up the yuan, China reduced its ratio of foreign exchange reserves, an indication that the government is worried about the currency’s decline.
The Reserve Bank of Australia is holding a meeting today (September 6), and a Reuters survey suggests that economists expect the central bank to hike interest rates by 0.5 percentage point, to 2.35%. In early trading, the Australian dollar was up 0.1% to $0.6828.
