Investing.com - Asian shares were mixed on Tuesday with a weaker yen aiding Tokyo following a survey of companies that pointed to continued easy monetary policies, but Sydney fell after the central bank kept interest rates at a record low 1.5%.
The S&P/ASX 200 eased 0.19%, while the Nikkei 225 rose 0.78%. Markets in China are shut for a week-long holiday.
In Australia, the central bank held steady as expected, but cited concerns on growth over a strong currency.
Also in Australia, building approvals for August fell 1.8%, less than the 7.0% drop seen month-on-month and private house approvals dipped 1.3%, compared with a revised upward 0.1% decline in the previous month.
Earlier, in New Zealand, the NZIER business confidence survey for the third quarter came in at 26%, compared to 19% previously while capacity utilization was 92.5% from 92.9%. NZD/USD traded at 0.7290, up 0.18% after the survey was released.
The Bank of Japan on Tuesday released inflation-outlook data measured in the consumer price index (excluding the effect of tax changes) among companies polled in its quarterly Tankan survey with the data indicating many companies remain skeptical that of reaching and sustaining 2% inflation during Governor Haruhiko Kuroda's five-year term that ends in April 2018 even with the bank's aggressive easing launched in April 2013, followed by an expanded effort in October 2014, and refocused on the yield curve last month.
Japanese companies expect consumer prices to rise an average 0.6% a year from now, compared to a 0.7% gain seen in the second quarter.
Overnight, U.S. stocks were lower after the close on Monday, as losses in the Utilities, Financials and Technology sectors led shares lower.
At the close in NYSE, the Dow Jones Industrial Average lost 0.30%, while the S&P 500 index declined 0.33%, and the NASDAQ Composite index declined 0.21%.
As well, data showed that U.S. manufacturing activity returned to expansion in September boosted optimism over the strength of the economy.
The greenback strengthened after the Institute for Supply Management said its index of manufacturing activity rose to 51.5 last month from August’s reading of 49.4. Analysts had forecast a lesser increase to 50.3.
The reports added to hopes for a U.S. rate hike before the end of the year following upbeat U.S. consumer sentiment data released on Friday. Investing.com's Fed Rate Monitor Tool shows investors estimate a 10.3% chance of a rate hike in November, and a 61.6% figure for December.