Asian stocks were mixed in early trading Tuesday, as investors awaited a statement from the Bank of Japan’s policy meeting.

Japan’s Nikkei NIK, +0.08%^[1]   fell early but made up ground, and was last down 0.3%. There was speculation that the Bank of Japan could lower its inflation target to 1.5%, and possibly change the yield target for the 10-year government bond TMBMKJP-10Y, -36.22%^[2] . Shares of Fast Retailing 9983, +1.42%^[3]   jumped 2%, while Sumitomo Mitsui Financial Group 8316, -1.47%^[4]   and Toyota 7203, -1.57%^[5]   fell.

Chinese stock indexes gained even as PMI readings were underwhelming ^[6]for July. The Shanghai Composite SHCOMP, -0.03%^[7]   was up modestly while the Shenzhen Composite 399106, -0.07%^[8]   posted a slightly larger gain. Troubled vaccine maker Changsheng Bio-technology 002680, -4.97%^[9]   continued to plunge for the 11th straight day of trading.

Hong Kong’s Hang Seng Index HSI, -0.55%^[10]   edged lower, as Tencent 0700, -2.72%^[11]   fell more than 2%. South Korea’s Kospi SEU, -0.10%^[12]  declined as well, as Samsung 005930, -0.43%^[13] ...