Tokyo, japan (BBN)-Japanese shares headed higher on Tuesday despite a key survey showing that manufacturers’ confidence fell the most in a year this month.
The Reuters Tankan – which closely tracks the Bank of Japan’s quarterly Tankan survey – showed slumping corporate morale after China’s stock market sell-off in August, reports BBC.
Investors were also awaiting the outcome of the central bank’s two-day policy review later on Tuesday.
The Nikkei index was up 1.6 per cent to 18,256.
Japan’s central bank is widely expected to maintain its stimulus programme in the world’s third-largest economy, but calls are growing for more measures to boost growth.
China leads losses
In China, shares opened lower, extending Monday’s losses.
The Shanghai Composite was down 2 per cent to 3,053.07, while Hong Kong’s Hang Seng index was lower by 0.4 per cent to 21,471.42.
Australian shares headed lower as investors turned cautious after the country was set to appoint a new prime minister on Tuesday.
A Liberal Party vote resulted in Malcolm Turnbull ousting Tony Abbott to take the top job, ending months of policy turmoil in Canberra.
The S&P/ASX 200 index was down 0.9 per cent to 5,052.90 points.
In South Korea, the benchmark Kospi index was up 0.3 per cent to 1,936.17.