Asia exchanges without common direction after U-turn in London

Asia exchanges without common direction after U-turn in London

Frankfurt, Tokyo The U-turn in UK fiscal policy left Asian markets struggling to find common ground on Tuesday. The fiscal correction is likely to have a significant impact on the Bank of England (BoE) as policymakers now revise their November meeting call for a 75 basis point rate hike instead of 100 basis points, Morgan Stanley analysts said.

The Nikkei index, which comprises 225 values, was 0.7 percent higher at 26,973 points. The broader Topix index rose 0.7 percent to 1,893 points. The Shanghai stock exchange was down 0.1 percent. The index of the most important companies in Shanghai and Shenzhen lost 0.2 percent.

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