Mumbai: Asian indices were mixed on Tuesday as fears of the war between the US and Iran prolonging weighed on market sentiment. US President Donald Trump does not seem open to Iran's proposal to reopen the Strait of Hormuz, as Iran's stance on its nuclear enrichment programme remains the key bone of contention, according to media reports. High Brent crude oil futures at $110 per barrel have further dampened the sentiment.
On the macroeconomic front, Bank of Japan is set to announce its interest rate decision Tuesday. The central bank is largely expected to hold rates steady, but market participants will keenly await commentary on the health of the economy. Japan's unemployment rate inched up to 2.7% in March, a tad higher than the 2.6% a month ago. Labour force participation remained mostly unchanged at 63.6% in March compared to 63.5% in February.
Moreover, Japan's Finance Minister Satsuki Katayama has said that the recent movement in the currency market is speculative, and that "decisive action" would be taken if necessary, the DowJones Newswires reported. The yen has largely been range-bound for the past few days, though depreciating slightly against the dollar. In Japan's stock market, the benchmark Nikkei 225 fell while the broader market TOPIX advanced.
Meanwhile, the FTSE Singapore Strait Times index gained in early trade after falling for four straight sessions. In South Korea, the benchmark KOSPI extended gains. KOSPI heavyweight SK Hynix continued its gains from Monday and was up over 2%.
Disclaimer: This story is from the syndicated feed. Nothing has been changed except the headline.
