Asian Shares Mixed Ahead Of Fed, ECB And BOJ Meetings

(RTTNews) - Asian stocks ended mixed on Tuesday, with Chinese and Hong Kong markets posting strong gains after reports emerged that policymakers are looking to bolster growth in the world's second-largest economy.

The dollar weakened and bond yields slipped as a two-day policy meeting gets underway later today.

Gold ticked up while oil extended gains for a third straight session on signs of tighter supplies and pledges by Chinese authorities to stimulate the economy.

Chinese shares rallied after policymakers promised steps to shore up growth by supporting real estate and other sectors.

The benchmark Shanghai Composite index climbed 2.13 percent to 3,231.52 while Hong Kong's Hang Seng index soared 4.10 percent to 19,434.40, led by real estate stocks.

Japanese shares ended little changed as caution crept in ahead of this week's central bank meetings in the U.S., Europe and Japan and a slew of corporate earnings from tech giants, including Google parent Alphabet, Microsoft and Meta.

The Nikkei average finished marginally lower at 32,682.51 after a strong rally on Monday. The broader Topix index edged up 0.18 percent to 2,285.38.

Electric motor maker Nidec tumbled 3.3 percent and Uniqlo brand owner Fast Retailing dropped 1.3 percent.

Seoul socks eked out modest gains after advanced estimates showed GDP grew more than expected in the second quarter. The Kospi average settled 0.30 percent higher at 2,636.46, extending gains for a third day running led by steelmakers and chemical companies.

Australian markets ended higher ahead of second-quarter inflation data due on Wednesday. The benchmark S&P/ASX 200 rose 0.46 percent to 7,339.70 while the broader All Ordinaries index ended half a percent higher at 7,554.70.

Heavyweight miners led the surge, with BHP, Rio Tinto and Fortescue Metals Group gaining 3-5 percent.

Energy stocks also climbed as oil extended gains for a third day in a row on signs of tight supply and China stimulus optimism.

Across the Tasman, New Zealand's benchmark S&P/NZX-50 index fell 0.70 percent to 11,933.86.

U.S. stocks eked out modest gains overnight as Chevron reported better-than-expected earnings and data showed that U.S. business activity grew at its slowest pace in five months in July.

The Dow rose half a percent to close higher for the 11th day in a row, marking the longest winning streak since February 2017. The tech-heavy Nasdaq Composite edged up 0.2 percent and the S&P 500 added 0.4 percent.