Tokyo Nikkei 225 up 1.12%, S&P ASX 200 down 0.42% (Il Sole 24 Ore Radiocor) - Tokyo, 02 Jul - Asian shares closed mixed in cautious trade after rising in June for a fifth straight month, as uncertainty over interest rates kept investor sentiment in check ahead of a speech by Federal Reserve chair Jerome Powell today and the minutes of the Fed's June meeting tomorrow.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.60% after climbing more than 3% in June, its best performance since February.

The regional index was up 7% so far in 2024, hovering at its highest level since April 2022.

Japanese shares outperformed their regional peers today as financials rose in Tokyo dealings on speculation that the Bank of Japan might raise interest rates again in the near future amid a weakening yen.

The currency hovered at its weakest in nearly 38 years.

Australia's S&P ASX 200 dropped after the minutes of the Reserve Bank of Australia's June meeting showed policymakers considered an interest rate hike amid sticky inflation.

The Nikkei index closed up 1.12% at 40,074 points, in Sydney the S&P ASX 200 closed down 0.42% at 7,718 points, while in Seoul the KOSPI closed down 0.83% at 2,780 points.

The Shanghai Composite index was down 0.14% at 2,990 points and the Hong Kong Hang Seng index was up 0.05% at 17,732 points. In Mumbai the Sensex index was up 0.01% at 79,486 points.

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(RADIOCOR) 02-07-24 08:55:59 (0169) 5 NNNN