Asia markets mostly lower; Nikkei drops 2.4% as yen climbs – CNBC
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Asia markets ended mostly lower on Tuesday, with Japanese shares losing ground on the back of a stronger yen.
Down Under, the ASX 200 fell 70.93 points, or 1.42 percent, to 4,924.38, with the country’s so-called Big Four banks – ANZ, Commonwealth Bank of Australia, Westpac and NAB – selling off between 1.01 and 2.29 percent.
Hong Kong’s Hang Seng index closed down 321.92 points, or 1.57 percent, at 20,177.
Mainland Chinese markets advanced, with the Shanghai composite reversing earlier losses to close up 43.85 points, or 1.46 percent, at 3,053.38 and the Shenzhen composite adding 49.59 points, or 2.6 percent, to 1,951.10.
India’s Sensex and Nifty 50 indexes were down 1.34 and 1.68 percent respectively as of 4:24 p.m. HK/SIN time, following the Reserve Bank of India’s (RBI) monetary policy decision.
The Indian central bank cut its repo rate by 25 basis points to 6.5 percent on Tuesday, largely in line with market expectations. In an unexpected move, however, the bank raised the reverse repo by 25 basis points to 6 percent.
Asia markets mostly lower; Nikkei drops 2.4% as yen climbs – CNBC}