Asia markets mostly higher today

Asian markets traded higher Tuesday, digesting the China's central bank surprising move to cut banks' reserve requirement ratio and shrugging off the weak economic data.

Japan's benchmark Nikkei 225 retraced losses of over 1% and closed with an increase of 58.75 points, or 0.37%, at a level of 16 085.51 points. Markets in South Korea are closed for national holidays.

Chinese markets recorded a volatile session, after the surprise move by Bank of China to reduce the reserve requirement ratio for banks and worse-than-expected manufacturing data. However, they also ended with gains. Shanghai composite index closed with a rise of 45.93 points, or 1.71%, to 2733.91 points, while Shenzhen composite finished with 38.11 points, or 2.32%, up to 1681.47 points.

Hong Kong's benchmark Hang Seng also closed the trading day with a rise of 295.53 points, or 1.55%, up to 19407.46 points.

The Australian index S&P ASX 200 joined the trend and surged by 41.32 points, or 0.85%, to 4922.25 points, with most sectors in green. The financial sector finished with a growth of 1.6% and energy with a growth of 1.81%.

Mining companies also went through a positive session. Shares of Rio Tinto gained 2.66%, Fortescue is up with 6.37%, while BHP Billiton added 2.95%. The gold miner Newcrest closed with a 4.51% rise in shares, while spot gold trading up 0.27% at $1,241.10 an ounce.

Meanwhile, the Reserve Bank of Australia kept the interest rate unchanged at a record low of 2%  on Tuesday. This decision was largely expected by analysts.

The aussie surprisingly remained little changed and was seen 0.15% lower after the news at $0.7130 against $0.7122 earlier.