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Asian stocks ended mixed on Tuesday as a broad array of Chinese economic data missed expectations and the country’s central bank cut a key interest rate in an effort to boost flagging growth. <\/p>\n
While the yen hit its lowest level since November, the dollar index eased from a five-week high hit in the previous session. <\/p>\n
Gold hovered near five-month lows while oil extended overnight losses on China demand concerns. <\/p>\n
China’s Shanghai Composite index fluctuated before finishing marginally lower at 3,176.18 as investors reacted to weak July consumer and business<\/span> activity figures and the central bank’s decision to cut two key interest rates to shore up the struggling economy. <\/p>\n Hong Kong’s Hang Seng index fell 1.03 percent to 18,581.11 on concerns about China’s frozen property sector and the outsized exposure of China’s shadow banks. <\/p>\n China’s industrial output and retail sales slowed last month, and fixed-asset investment growth also lost more momentum, suggesting that more support is needed to revitalize flagging economic growth. <\/p>\n Japanese shares advanced after data showed GDP grew for a third straight quarter in the April-June period, helped by brisk auto exports and tourist arrivals.<\/p>\n The Nikkei average rose 0.56 percent to 32,238.89 as chip-related shares followed their U.S. peers higher. The broader Topix index settled 0.41 percent higher at 2,290.31. <\/p>\n Advantest, Tokyo Electron and Screen Holdings gained between 1.7 percent and 1.9 percent. Sensor maker TDK added 2.5 percent. <\/p>\n Australian markets<\/span> eked out modest gains as a surprise fall in wages growth in the year to June added to the case for the Reserve Bank to keep rates on hold.<\/p>\n The benchmark S&P ASX 200 rose 0.38 percent to 7,305 while the broader All Ordinaries index ended 0.36 percent higher at 7,520.40.<\/p>\n Healthcare stocks paced the gainers, with heavyweight CSL climbing 3.7 percent after posting a 10 percent rise in its full-year underlying profit. Cochlear surged 5.7 percent and Pro Medicus rallied 4.2 percent. <\/p>\n Across the Tasman, New Zealand’s benchmark S&P NZX-50 index ended marginally lower at 11820.74. Markets in South Korea and India were closed for holidays. <\/p>\n U.S. stocks rose overnight, with technology<\/span> stocks leading the surge on growing hopes of a soft landing in the U.S. economy<\/span> and a rating upgrade of Nvidia by Morgan Stanley.<\/p>\n The Dow edged up marginally, the S&P 500 added 0.6 percent and the tech-heavy Nasdaq Composite surged 1 percent. <\/p>\n<\/p>\n<\/div>\n