# Asia stocks edge higher; Australia slashes cash rate to new record low

> Asian stocks closed higher on Tuesday as the Reserve Bank of Australia cut its cash rate by a quarter point to a record low 0.75%, a decision widely expected. Japan's Tankan survey showed big manufacturers' sentiment at its lowest since June 2013, and mainland China and Hong Kong markets were closed for holidays.

- Date: 2019-09-30 · published 2019-09-30T12:00:00.000Z
- Category: macro · region Australia · magnitude low
- Page: https://feedsoft.ai/events/57332-asia-stocks-edge-higher-australia-slashes-cash-rate-to-new-record-low
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

Lower Australian rates weaken the currency, which can support Australian export competitiveness, while weak Japanese manufacturing sentiment signals softer demand for feed-linked imports.

## Read by commodity

- AUDUSD: bearish ▼

## Sources

- cnbc.com: https://www.cnbc.com/2019/10/01/asia-markets-october-1-rba-rate-decision-currencies-and-oil.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.