Asian stocks: Recovery intact post-RBA

The stocks on the Asian bourses trade with size-able gains and keep its recovery mode intact following RBA’s steady policy decision, with the bank leaving the official cash rate (OCR) unchanged at a record low of 1.5% at its meeting today.

The Asian indices bounced-back this Tuesday, after booking heavy losses a day before on the back of widespread risk-aversion, triggered by a No vote-win in Sunday’s Italian referendum on the constitution overhaul.

However, the rebound stalled over last hours and the indices moved-off session tops in response to renewed weakness in oil prices, which dragged the energy stocks lower. While the Australian markets clinged to solid gains and remained largely unfazed by RBA’s status-quo, which was already discounted by markets.

Meanwhile, Japan’s Nikkei 225 rises +0.56% to 18,370, the Australian S&P/ASX 200 climbs +0.78% to 5,440. The Chinese equities trade modestly flat, with the benchmark Shanghai Composite index up +0.08%, while CSI300 index also edges +0.07 % higher. Hong Kong markets jump +0.86% to 22,700 levels.