ASIA STOCKS: Asia Equities Mixed, HK Tech Outperforms, RBA Shortly

Asian equities are mixed today with ranges narrow ahead of the RBA’s policy decision. Hong Kong stocks extended gains, with the Hang Seng China Enterprises Index rising as much as 1% early in the session, driven by tech stocks like Alibaba and Xiaomi. Optimism grew following President Xi Jinping’s meeting with business leaders, signaling a more supportive stance toward the private sector.

• Japan’s markets advanced, with the Nikkei rising 0.40%, supported by gains in defense stocks after European Union leaders discussed increasing military spending. Tech shares also rallied amid expectations that China may ease regulatory pressure on the sector.
• Hong Kong listed equities continue to outperform their mainland peers, with the HSI up 1.20%, while the CSI 300 trades little changed for the session
• Taiwan's TAIEX in unchanged today, while South Korea's KOSPI is 0.20% higher
• Australia’s ASX200 is 0.50% lower as investors awaited the RBA’s policy decision, the AUD is holding near a two-month high. Meanwhile, BHP’s first half profit fell 23%, with weak Chinese demand for iron ore and copper, hurting results

In broader markets, the USD strengthened, while oil held its gains after reports that OPEC+ may delay output increases and Ukrainian drone attacks hit a Russian crude-pumping station.