Asia-Pacific markets rise; Reserve Bank of Australia decision ahead

Asia-Pacific markets rise; Reserve Bank of Australia decision ahead


SINGAPORE — Shares in the Asia-Pacific traded higher as investors look ahead to the Reserve Bank of Australia’s rate decision.

South Korea’s Kospi increased 1.29%, and the Kosdaq advanced 3.25%. SK Hynix jumped 3.37% while Naver rose 3.19%.

The Nikkei 225 in Japan gained 0.82%, while the Topix index rose 0.4%.

Hong Kong’s Hang Seng index pared earlier gains to rise 0.45%.

In Australia, the S&P/ASX 200 was 0.14% higher.

The Reserve Bank of Australia is expected to raise interest rates by 50 basis points later today, a Reuters poll predicted.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.32%.

Mainland China markets bucked the trend to fall in morning trade. The Shanghai Composite slipped 0.11%, and the Shenzhen Component was down 0.93%.

Stock picks and investing trends from CNBC Pro:

Elsewhere in the region, South Korean data released Tuesday showed the consumer price index in June rose 6% compared with the same period a year ago. That is slightly higher than the expected 5.9% increase and the fastest annual rise since November 1998, according to Reuters.

“Price pressures and a hawkish U.S. Fed, at a time when South Korea’s balance of payments is under pressure, strengthens the case for a 50bp rate hike at the [Bank of Korea’s] meeting on 13 July,” ANZ economist Krystal Tan wrote in a note on Tuesday.

Japan’s services activity expanded at the fastest pace since October 2013, according to the final au Jibun Bank Japan Services Purchasing Managers’ Index. The print rose to 54, compared to 52.6 in May.

The 50-point mark separates growth from contraction on a monthly basis.

China’s service sector activity also grew, according to the Caixin services purchasing managers’ index. The index rose to 54.5 in June compared to 41.4 in May as Covid measures were eased.

In company news, a group of lawmakers in the U.K. are reportedly calling for a ban on Chinese CCTV makers Hikvision and Dahua over alleged links to human rights abuses.

U.S. markets were closed overnight for a holiday.

Currencies and oil

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 105.19.

The Japanese yen traded at 136.2 per dollar, after briefly weakening past 137 against the greenback last week. The Australian dollar was at $0.6880, following a recovery from below $0.679.

U.S. crude futures gained 1.94% in Asia’s morning trade to $110.53 per barrel, while Brent crude futures rose 0.23% to $113.76 per barrel.



Source

How tourists alerted this fund manager to sell Moncler before its stock plunge
World

How tourists alerted this fund manager to sell Moncler before its stock plunge

In February, while luxury brand Moncler was still basking in the glow of a stellar 20% share price surge from January, fund manager Giles Parkinson made a contrarian move: he sold out. His decision, driven by subtle signals in tourist spending data, ultimately proved to be the right one. By the end of March, Moncler’s […]

Read More
China’s May factory activity unexpectedly shrinks, clocking its worst drop since 2022: Caixin
World

China’s May factory activity unexpectedly shrinks, clocking its worst drop since 2022: Caixin

JIMO, CHINA – MAY 21: Car bodies are assembled at a factory of FAW-Volkswagen Automotive Co., Ltd Qingdao Branch on May 21, 2025 in Jimo, Qingdao City, Shandong Province of China. Visual China Group | Getty Images China’s manufacturing activity in May shrank at its fastest pace since September 2022, a private survey showed Tuesday, […]

Read More
CNBC Daily Open: Elon Musk’s companies report positive developments amid his return to work
World

CNBC Daily Open: Elon Musk’s companies report positive developments amid his return to work

Elon Musk laughs during a press event with US President Donald Trump in the Oval Office of the White House in Washington, DC, on May 30, 2025. Allison Robbert | AFP | Getty Images In his first week away from the U.S. government’s so-called Department of Government Efficiency, Elon Musk is seeing positive activity in his […]

Read More