Investing.com - Asian shares trended weaker on Tuesday, but Sydney rose as the Reserve Bank of Australia held rates steady though noted there was room to cut further.
The S&P/ASX 200 rose 1.03%, while the Nikkei 225 fell 2.09% and the Shanghai Composite eased 1.70%.
A slim majority of analysts expected the RBA to leave the cash rate unchanged at 2.0% with the market pricing in a 44% chance of a 25 basis points cut.
"At today's meeting the Board judged that the prospects for an improvement in economic conditions had firmed a little over recent months and that leaving the cash rate unchanged was appropriate at this meeting," Governor Glenn Stevens said in a statement.
"Members also observed that the outlook for inflation may afford scope for further easing of policy, should that be appropriate to lend support to demand."
Overnight, U.S. stocks were higher after the close on Monday, as gains in the Oil & Gas, Healthcare and Financials sectors led shares higher.
At the close in NYSE, the Dow Jones Industrial Average added 0.93% to hit a new 3-months high, while the S&P 500 index climbed 1.19%, and the NASDAQ Composite index added 1.45%.