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Asian close down despite US closing highs | |
(about 4 hours later) | |
Stock markets in Asia closed lower on Tuesday, despite markets in the US, where both the Dow Jones and the S&P 500 closed at all-time highs. | |
Australia's benchmark S&P/ASX 200 finished 0.39% lower at 5902.90. | |
The index reversed early gains after the Reserve Bank of Australia (RBA) announced it would keep its benchmark interest rate on hold at 2.25%. | |
Many traders were expecting a cut in rates and the Australia dollar strengthened after the RBA's move. | |
RBA governor Glenn Stevens said: "At today's meeting the board judged that, having eased monetary policy at the previous meeting, it was appropriate to hold interest rates steady for the time being." | RBA governor Glenn Stevens said: "At today's meeting the board judged that, having eased monetary policy at the previous meeting, it was appropriate to hold interest rates steady for the time being." |
Elsewhere in Asia | Elsewhere in Asia |
In Tokyo, the benchmark Nikkei 225 closed a touch lower, losing 11 points to close at 18,815. | |
Trading of shares of Japan's struggling electronics giant Sharp was halted temporarily on Tuesday morning after a media report said the firm was preparing to seek aid from its lenders. | Trading of shares of Japan's struggling electronics giant Sharp was halted temporarily on Tuesday morning after a media report said the firm was preparing to seek aid from its lenders. |
The company said it had not been the source of the report, however, and that it had made no decisions around restructuring. | The company said it had not been the source of the report, however, and that it had made no decisions around restructuring. |
Despite the reassurance, its Japan-listed shares closed 3.5% lower. | |
Sharp had said it was likely to post its third annual net loss in four years as it struggles with its business in China. | Sharp had said it was likely to post its third annual net loss in four years as it struggles with its business in China. |
Hong Kong's Hang Seng was down 0.7% at 24,702. | |
On mainland China, the Shanghai Composite index was down 2.2% at 3,263 as investors worried about a glut of new share offers. | |
In Korea, the Kospi share index was up 0.2% closing at 2,001. | |