Asian Markets Mixed

Asia-Pacific markets traded mixed on Tuesday, with Japan’s Nikkei 225 falling 2.06% and the Topix down 1.8% as the yen strengthened for the sixth consecutive session to 140.40 against the dollar. Investors are awaiting the Federal Reserve’s anticipated rate cut, the first since March 2022, though uncertainty remains over the size of the reduction.

U.S. retail sales data is also in focus ahead of the Fed’s two-day policy meeting.

In economic news, Singapore’s non-oil domestic exports rose 10.7% year-on-year in August, but fell 4.7% month-on-month, below Reuters’ forecast. Meanwhile, India’s wholesale prices for August are expected to cool slightly to 1.85%, down from July’s 2.04%.

Hong Kong’s Hang Seng index gained 1.6%, while Chinese appliance maker Midea Group surged over 9% in its Hong Kong debut, the city’s largest listing in over three years. South Korean, mainland Chinese, and Taiwanese markets remained closed for a holiday.