Investors reacted to recent remarks by Chinese President Xi Jinping in support of the private sector.
Xi urged business to “show off their talent,” but the markets remained cautious after his meeting behind closed doors with top executives.
Hong Kong’s Hang Seng Index rose 0.48%, while the CSI 300 Index fell 0.24%.
The Hang Seng Tech Index which measures Hong Kong’s tech giants fell by 0.63%. This is a continuation of Monday’s 2 percent drop.
Nikkei gains, Australia falls ahead of RBA Decision
The Nikkei index rose 0.47% in Japan, while the Topix Index advanced 0.34%.
S&P/ASX 200 in Australia fell by 0.59%, as investors awaited Reserve Bank of Australia (RBA’s) latest policy announcement.
According to Reuters, the markets are expecting a rate reduction of 25 basis points to 4.1%.
The Australian dollar rose 0.17%, to 0.6343 US dollars.
Focus on South Korea and Singapore
The South Korean Kospi was flat while the Kosdaq, a small-cap stock exchange in Korea, fell by 0.17%.
Analysts expect economic measures to be announced in Singapore’s first budget under Premier Lawrence Wong. This is ahead of November’s city-state general elections.
US futures rise after holiday break
Futures began the week on a positive note, despite US markets being closed due to a holiday.
Futures for the Dow Jones Industrial Average rose by 106 points (0.2%), while those of S&P500 and Nasdaq100 each gained 0.2%.
This article Asia markets February 18: Stocks Mixed as Investors Weigh Xi’s Pro-Business Attitude may be updated as new developments unfold.
