Asian markets ended mixed Tuesday with the Nikkei outperforming its regional peers, aided by a weaker yen.
Earlier, data showed Australian business confidence fell last month and overall conditions remained weak. Business confidence declined to 5 points from 12 points in September, according to National Australia Bank’s monthly survey. Business conditions remained the same at -4 points.
In China, data showed lending hit a 10-month low in October. The markets awaited the announcement of reform measures after a crucial four-day meeting of the nation’s leaders that is expected to set the country’s economic agenda for the next decade.
Stocks on the Move
Index heavyweight Sony lifted 3.6% while Fanuc gained 2.4%.
Mazda accelerated 1.9%.
Dentsu surged 5.4% after the company upwardly revised its full-year net profit forecast.
Banks were mostly lower in Hong Kong but their mainland-listed shares all ended higher. Two stocks debuted on the Hang Seng, namely, Huishang Bank Corp., and tech gaming company Boyaa Interactive International.
In Mumbai, Tata Motors was down 4.5% on broker downgrades after it reported results.
SSLT fell 3.4% while Tata Power was down 2.7%. ICICI Bank and Tata Steel fell 2.2% and 2.2% each, respectively.
SBI, ONGC, BHEL, L&T, RIL, HDFC, Gail India, Coal India, and NTPC were all down in a range between 1% and 1.8%.
The four major banks were all down in a range between 0.2% and 0.8% in Sydney. BHP Billiton edged up 0.3% and Rio Tinto sank 0.6%.