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Asia Markets Rise as Bank of Korea Holds Rates

Stocks in the Asia-Pacific mostly rose on Tuesday as the Bank of Korea held interest rates at 3.5%, in line with expectations. South Korea’s central bank held rates for the second consecutive time as the nation grapples with an inflation rate of 4.2%.

In Japan, the Nikkei 225 charged ahead 284.71 points, or 1.1%, to 27,923.37, led by technology and consumer cyclicals.

In Hong Kong, the Hang Seng index returned from a long weekend to gain 154.04 points, or 0.8%, to 20,485.24.


Markets were mixed as China's inflation reading came in below expectations at 0.7%.

In Shanghai, the CSI 300 faded 4.66 points, or 0.1%, to 4,100.15.

Australia’s Foreign Minister Penny Wong and Trade Minister announced to suspend its appeal to the World Trade Organization against China’s tariffs for three months.

The move comes just before the WTO was expected to deliver a finding over the dispute between the two countries, Australia’s ABC reported.

Wong said that China agreed to conduct an “expedited review” of tariffs on Australian barley imports over the next three months, adding that the bilateral talks may help Australian producers return to the Chinese market quicker.

In other markets

In Singapore, the Straits Times regained 3.4 points, or 0.1%, to 3,297.83.

In Korea, the Kospi gained 35.78 points, or 1.4%, to 2,547.86.

In Taiwan, the Taiex Index picked up 37.71 points, or 0.2%, to 15,913.88.

In New Zealand, the NZX 50 poked ahead 3.5 points to 11,873.58.

In Australia, the ASX 200 rocketed 90.91 points, or 1.3%, to 7,309.89.