
APAC markets mixed amid holidays; RBA flags risks

Asia-Pacific markets traded mixed on Tuesday, with several major exchanges shut for public holidays and investors digesting the latest policy minutes from the Reserve Bank of Australia (RBA). By 11:40 am AEDT (12:40 am GMT), Australia’s S&P/ASX 200 was up 0.5%, while Japan’s Nikkei 225 slipped 0.3%. South Korea’s KOSPI 200 remained closed for a public holiday. Among data releases, minutes from the RBA’s latest meeting revealed policymakers’ concerns over emerging geopolitical and institutional risks, including “military action, tariff developments and new threats to the independence of the U.S. Federal Reserve”, while the "U.S. dollar remained lower and gold and silver prices higher than at the start of the year". The minutes also pointed to rising longer-term bond yields domestically: "Longer term bond yields in Australia had moved higher, reflecting changed expectations for the cash rate. Members noted that measures of longer term inflation expectations appeared well anchored and consistent with central banks’ inflation targets. "However, measures of inflation expectations at the two-year horizon had increased, most noticeably in Australia." Policymakers also signalled that financial conditions may no longer be







