Asian stocks were mixed on Tuesday as investors weighed Apple's outlook, which forecast lower gross margins for the holiday quarter on rising memory-chip costs and services growth below expectations, while positioning ahead of U.S. midterm elections. South Korea's KOSPI fell more than 3%, China's Shanghai Composite slipped 0.8%, while Hong Kong's Hang Seng rose 0.5%. The RBA raised its cash rate by 25 basis points to 4.85%, its highest since 2008 and the fifth hike this year, in a split decision with six board members voting for a hike and three preferring no change. The People's Bank of China will raise the foreign exchange deposit reserve ratio for financial institutions to 6% from 4%, effective November 15.
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Related tickers and likely impact
AUD/USD
▲ Likely positiveRelevance: high
| Market | Currencies |
|---|---|
| Close on 11/02/2026 | 0.69982 |
| Change that session | -0.48% |
AAPL
▼ Likely negativeApple Inc.
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Technology Hardware, Storage & Peripherals |
| Market cap | $5.1T |
| Close on 11/02/2026 | 338.32 |
| Change that session | -1.83% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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- Asian currencies mixed as yuan slides after PBOC move, won rebounds
Asian currencies were mixed, with the yuan weakening after the People's Bank of China raised its foreign-exchange reserve requirement ratio by 2 percentage points to 6% from 4%, effective November 15, a move expected to withdraw about $24 billion from the financial system. The won rebounded, with USD/KRW down 0.5% to 1,339.30, while the dollar index held near 101.80, close to a one-month low. Brent crude fell more than 7% on Monday after Tehran said contacts with Washington aimed at ending the eight-month conflict were continuing, as investors awaited the US midterm elections and the October jobs report. South Korea's October exports rose 93.7% year on year, led by a 259.4% jump in semiconductor shipments, while inflation eased to 2.8% from 2.9%. The yuan is still up more than 5% against the dollar this year.
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