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% 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% . Shares of Fast Retailing 9983, +1.42% jumped 2%, while Sumitomo Mitsui Financial Group 8316, -1.47% and Toyota 7203, -1.57% fell.
Chinese stock indexes gained even as PMI readings were underwhelming for July. The Shanghai Composite SHCOMP, -0.03% was up modestly while the Shenzhen Composite 399106, -0.07% posted a slightly larger gain. Troubled vaccine maker Changsheng Bio-technology 002680, -4.97% continued to plunge for the 11th straight day of trading.