TOKYO — Asian shares were trading mixed on Monday, as investors awaited further indications the Federal Reserve might begin cutting interest rates.
Hong Kong’s Hang Seng climbed 0.2% to 16,535.89, while the Shanghai Composite gained 0.3% to 3,056.52.Australia's S&P/ASX 200 rose 0.5% to 7,811.90. South Korea's Kospi lost 0.2% to 2,743.04. “The recent Bank of Japan meeting added another layer of complexity to the dollar’s trajectory. Despite the BOJ’s decision to hike rates, cautious communication failed to stimulate demand for the Japanese yen,” said Luca Santos, currency analyst ACY Securities.
In the bond market, U.S. Treasury yields pulled back. The yield on the 10-year Treasury fell to 4.21% from 4.27% late Thursday.has indicated it may deliver three cuts to interest rates this year, as long as inflation keeps cooling. The Fed's main interest rate is at its highest level since 2001.
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