Asia-Pacific markets were mostly lower Tuesday as investors assessed comments from the European Central Bank officials signaling that rate cuts may be on the horizon for the world’s largest economic bloc.
In Japan, the Nikkei 225 index slumped 44.65 points, or 0.1%, to 38,855.37.
In Hong Kong, the Hang Seng index eased 6.19 points to 18,821.16.
In a speech Monday, Olli Rehn, ECB governing council member and head of Finland’s central bank, stressed inflation in the euro area was falling in a “sustained way.” He added: “The time is thus ripe in June to ease the monetary policy stance and start cutting rates.”
Inflation in the euro zone held steady at 2.4% in April, marking the seventh straight month it has been below 3%, despite a slight rebound in December. The data for May will be out Friday.
In other markets
In Shanghai, the CSI 300 dropped 26.54 points, or 0.7%, to 3,609.17.
In Korea, the Kospi index inched back 0.14 points to 2,722.85.
In Singapore, the Straits Times Index took on 11.64 points, or 0.4%, to 3,330.09.
In Taiwan, the Taiex index added 54.64 points, or 0.3%, to 21,858.41.
In New Zealand, the NZX 50 index subtracted 73.49 points, or 0.6%, to 11,682.52.
In Australia, the ASX 200 fell 21.59 points, or 0.3%, to 7,766.71.
