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Asia markets mixed after surprise Australia rate decision

Published 02/02/2010, 03:05 AM
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Asian stock markets were mixed on Tuesday after Australia's central bank kept interest rates on hold, surprising investors who had expected a rate increase. 

The Shanghai Composite Index fell 0.23%, Hong Kong's Hang Seng Index was down 0.01% and South Korea's Kospi Composite Index fell 0.66%. 

But Australia's S&P/ASX 200 climbed 1.79%, and Japan’s Nikkei 225 Index rose 1.63%. 

Earlier Tuesday, the Reserve Bank of Australia kept rates steady at 3.75%, confounding expectations of a hike following a string of increases at the central bank's previous three meetings. 

The outlook for U.S. markets, meanwhile, was also mixed, as Dow Jones industrial average futures indicated a drop of 0.01%, S&P 500 index futures pointed to an increase of 0.06% and Nasdaq 100 futures indicated a fall of 0.08%.

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