Nikkei 225 advances amid weaker yen, rest of Asia lower

The Asian equity markets trade mixed so far this Tuesday, with the Japanese stocks benefiting from yen’s relative weakness, while rest of Asia trades in the red. The mainland China markets will remain closed for the balance of this week on account of annual National Day Golden Week.

The Japanese indices rallied after the exporters’ stocks got a boost from ongoing yen weakness against the US dollar, in response to improved risk sentiment and upbeat US factory data. While talks of foreign bond buying also weighs on the yen, driving USD/JPY to fresh 2-week highs above 102.00.

Meanwhile, the Australian markets trade on the back foot as investors remain wary ahead of the RBA interest rate decision. However, better-than expected Aus building consents data continue to offer some support to the region’s stocks.

Meanwhile, Japan’s Nikkei 225 now rises +0.81% to 16,733, the Australian S&P/ASX 200 drop -0.22% to 5466. Hong Kong markets trade modestly flat around 23,550 levels.