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.
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