Asia Mixed over Korean Bank Policy

Asia-Pacific markets closed mixed Thursday in the absence of any major triggers, with investors assessing the Bank of Korea’s policy decision. In Japan, the Nikkei climbed 308.52 points, or 0.7%, to 42,828.79. In Hong Kong, the Hang Seng lost 202.94 points, or 0.8%, to 24,998.82. South Korea’s central bank kept its policy rate unchanged at 2.5% for a second straight meeting despite an uncertain trade environment for the country. The move was in line with expectations of economists polled by Reuters. The South Korean won strengthened 0.36% to 1,387.58 against the greenback. Australian rare earths producer Lynas Rare Earths plans to raise about A$750 million ($488 million) through a discounted share sale to boost its processing and exploration activities. The miner will issue stock at A$13.25, about a 10% discount compared to its last close. The company also announced that its shares have been placed on a trading halt. Shares of Australian flag carrier Qantas rose to a record high Thursday after its full-year earnings results beat estimates, buoyed by resilient demand across its domestic and international networks. The carrier reported a 15% jump in underlying profit before tax to A$2.39 billion ($1.6 billion U.S.), beating the Visible Alpha consensus estimate of A$2.38 billion. Its revenue rose 8.6% to A$23.82 billion for the year ended June 30. In other markets In Shanghai, the CSI 300 recovered 77.65 points, or 1.8%, to 4,462.78. In Singapore, the Straits Times index nicked higher 8.21 points, or 0.2%, to 4,253.78. In Korea, the Kospi inched up 9.16 points, or 0.3%, to 3,196.32. In Taiwan, the Taiex index slid 283.45 points, or 1.2%, to 24,236.45. In New Zealand, the NZX 50 revived 41.25 points, or 0.3%, to 12,903.08 In Australia, the ASX 200 moved higher 19.45 points, or 0.2%, to 8,979.97.