Maintaining a stable exchange rate through the calibration of interest rates continues to be paramount to Hong Kong, Hong Kong central bank chief said
Yang Liu | Corbis Documentary | Getty Images
Shares in the Asia-Pacific were higher on Tuesday ahead of Australia’s central bank decision. Investors were also digesting the Caixin manufacturing PMI for China, which came in at 49.2, representing a contraction in factory activity for October.
The Hang Seng index in Hong Kong rose 3.78%, with Hang Seng Tech up 5%. Mainland China’s Shanghai Composite gained 1.37% and the Shenzhen Component added more than 2%.
The Nikkei 225 in Japan was 0.2% higher while the Topix rose 0.42%.The Kospi in South Korea also rose 1.38%.
In Australia, the S&P/ASX 200 rose 0.9% as analysts expect the Reserve Bank of Australia to raise interest rates by 25 basis points, according a Reuters poll. The Australian dollar was stronger at $0.6416.
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