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  • Asian shares kick-start September amid mixed feelings, US dollar refreshes multi-month low.
  • RBA shows readiness for further easing amid status-quo at 0.25% rate, China’s Caixin PMI cites the dragon’s recovery.
  • Search for Japanese Leadership continues, US policymakers jostle over stimulus package while suggesting a move next week.

Asian equities seesaw around the multi-month top while stepping forward for September month’s trading. The risk-tone recently gained bids from RBA’s monetary policy decision and data from China while chatters concerning the US aid package and Japan’s PM after Abe offer background music before Tuesday’s European session’s start.

While portraying the same, the MSCI index of Asia-Pacific shares outside Japan gains 0.70% to seesaw around 2018 top but Japan’s Nikkei 225 stays mostly unchanged around 23,150 by the press time. Further, the US dollar index (DXY) refreshes the 28-month low whereas the S&P 500 Futures regains 3,500 after stepping back from the record high of 3,524.50 the previous day. Additionally, the US 10-year Treasury yields add two basis points to 0.715% as we write.

Early in Asia, second-tier data from Australia pleased the bulls before China’s Caixin Manufacturing PMI showed the Asian major’s recovery moves from the coronavirus (COVID-19)-led economic slowdown. Following that, the RBA came out with its usually dovish halt that got mostly ignored by the Aussie bulls. Amid all these catalysts, stocks in Australia become the worst performer while those from China stand on the other side with over 1.5% figures on both the ends.

New Zealand’s NZX 50 also follows its largest customers, namely Australia, while declining 1.4% whereas numbers from Hong Kong and relating South Korea’s KOSPI follow Chinese moves. Moving on, Indonesia IDX struggle to justify CPI’s performance but India’s BSE Sensex adds 0.50% amid mixed mood.

Looking forward, traders will keep eyes on the US ISM Manufacturing PMI for fresh impetus whereas chatter surrounding the US aid package and COVID-19 may offer intermediate moves.

Read: ISM Manufacturing PMI Preview: Why only a leap can stop the dollar’s decline

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