Investing.com - Asian shares were mixed on Tuesday with data from China failing to lift the market, but Sydney and Tokyo edging out gains on shifting views of chances of a Fed rate hike this month.
The Shanghai Composite edged down 0.06% despite upbeat data.
China reported fixed asset investment for August rose 8.1%, better than the 8.0% year-on-year gain seen, and industrial production gained 6.3%, also beating an expected 6.1% year-on-year rise, and retail sales increased 10.6%, ahead of the 10.3% boost seen.
Separately, a move Monday by the People's Bank of China (PBOC) to fix the RMB-dollar parity at 6.6908, a sharp jolt from 6.6684 on Friday, was said to be a curious event. After the PBOC move on parity, Chinese state-owned banks on Monday defended the RMB at 6.8 to the dollar in what was widely seen as proxy intervention, though the PBOC has denied it directed the action. Then on Tuesday, the PBOC abruptly set the RMB parity against the dollar at 6.6726.
The S&P/ASX 200 however rose 0.33% after a survey of business views. National Australia Bank reported business confidence for August rose to plus-6, compared with the previous survey at plus-4, and its business survey fell to plus-7 from the previous reading at plus-8.
And the Nikkei 225 gained aslight 0.02% as views shifted on chance of a Fed rate hike this month.
On Monday Federal Reserve Board Governor Lael Brainard argued against prematurely removing monetary policy accommodation in the United States, remarks that are likely to significantly dampen expectations for a rate hike next week stoked on Friday by Boston Fed President Eric Rosengren who said that low interest rates are increasing the chance of overheating the U.S. economy.
But Brainard's remarks may draw the most near-term attention as the Fed enters a communication blackout period ahead of the FOMC's next meeting on Sept. 20-21 as as a key dove who has in the past been able to convince Fed Chair Janet Yellen to hold off on raising rates. The Investing.com Fed Rate Monitor Tool shows a 15% possibility of a rate hike in September at the meeting, down from above 20% earlier on Monday.
Still, earlier on Monday Atlanta Federal Reserve Bank President Dennis Lockhart said Monday the economic data of late justifies a "lively" conversation about whether to raise rates at this meting.
"Notwithstanding a few recent weak monthly reports -- from the Institute for Supply Management, for example -- I am satisfied at this point that conditions warrant that serious discussion," Lockhart said in a speech prepared for the National Association for Business Economics.
"I believe the economy is sustaining sufficient momentum to substantially achieve the committee's monetary policy objectives in an acceptable medium-term time horizon," continued Lockhart, who doesn't vote on the committee until 2018, but is largely seen as a centrist on the committee.
Overnight, U.S. stocks were higher after the close on Monday, as gains in the Telecoms, Consumer Goods and Utilities sectors led shares higher.
At the close in NYSE, the Dow Jones Industrial Average added 1.32%, while the S&P 500 index gained 1.47%, and the NASDAQ Composite index added 1.68%.