Asia Markets: Asian markets mixed as investors wait on Bank of Japan announcement

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Asian stocks were mixed in early trading Tuesday, as investors awaited a statement from the Bank of Japan’s policy meeting.

Japan’s Nikkei NIK, +0.04%   fell early but made up ground, and was last down 0.3%. There was speculation that the Bank of Japan could lower its inflation target to 1.5%, and possibly change the yield target for the 10-year government bond TMBMKJP-10Y, -36.60% . Shares of Fast Retailing 9983, +2.14%   jumped 2%, while Sumitomo Mitsui Financial Group 8316, -2.74%   and Toyota 7203, -2.51%   fell.

Chinese stock indexes gained even as PMI readings were underwhelming for July. The Shanghai Composite SHCOMP, -0.02%   was up modestly while the Shenzhen Composite 399106, -0.37%   posted a slightly larger gain. Troubled vaccine maker Changsheng Bio-technology 002680, -4.97%   continued to plunge for the 11th straight day of trading.

Hong Kong’s Hang Seng Index HSI, -0.48%   edged lower, as Tencent 0700, -2.61%   fell more than 2%. South Korea’s Kospi SEU, +0.08%  declined as well, as Samsung 005930, -0.54%   fell after posting flat quarterly growth as smartphone sales slumped.

Markets in Australia XJO, +0.03%   and New Zealand NZ50GR, +0.01%   rose, as did indexes in Singapore STI, +0.18%   and Taiwan Y9999, +0.22%  .

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