Asian Stocks Slip as Focus Shifts to Central Bank Decisions; Hang Seng Dips at Open

Asian stocks retreated on Tuesday as investors shifted focus to upcoming central bank decisions, including an expected rate hike from the Bank of Japan, after the previous session’s rally on news of a US-Iran peace deal, according to RTHK, In Hong Kong, the Hang Seng Index opened down 16 points, or 0.07%, at 24,826, while the China Enterprises Index fell 0.04% to 8,372 and the tech index opened flat at 4,765. The Shanghai Composite opened down 0.06% at 4,094, while the Shenzhen Component rose 0.34% to 15,584 and the ChiNext Index gained 0.79% to 4,065. Japan’s Nikkei 225 opened down 0.04% at 69,288 and was down 0.16% at 69,209 at one stage before noon, while South Korea’s Kospi opened up 1.76% at 8,696 before drifting to around 8,692. Oil prices steadied after settling at a three-month low overnight, with Brent crude futures up 0.1% at US$83.25 a barrel. Westpac analysts said the durability of the preliminary agreement between Washington and Tehran could be tested, with issues including Iran’s nuclear programme left for later negotiations.