Shares in Asia mix with Sydney up slightly
On Wednesday, stocks in Asia demonstrated mixed performance with Sydney up in a light data day.
The Nikkei 225 edged down 0.66%, the S&P/ASX 200 soared 0.58%. Meanwhile, in Australia, the MI leading index for June dropped 0.2%, with the previous figure revealing a 0.2% revenue month-on-month.
The outlook indicated by the main index is far more consistent with Westpac's forecast for growth remaining steady around a 3% tempo over the next year. Besides this, the Reserve Bank is on the verge of updating its prediction for growth as well as inflation in August for the quarterly Statement on Monetary Policy. As follows from this, the cash rate might be lower4ed if the updated outlook needs a change in stance.
The Shanghai Composite Index last gave a 0.23% sag, while in Hong Kong the Hang Seng Index dared to rise 0.74%.
The Chinese Yuan traded a bit higher against the greenback after the People's Bank of China strengthened the fixing for the first time for three days at 6.6946, compared with Tuesday’s reading of 6.6971.