Stock market today: Asia shares mixed on holiday mode trade

Asian shares are mixed with some markets closed or anticipating holidays and investors showing muted reaction to the latest U.S. banking failure. The Nikkei 225 edged up 0.1% in afternoon trading before Tokyo markets close for Golden Week holidays. Trading was closed in Shanghai for Labor Day. Australia dipped while South Korea’s Kospi and Hong Kong’s Hang Seng gained. The Reserve Bank of Australia unexpectedly raised interest rates by a quarter-percentage point. Economic and inflation reports are expected in Europe ahead of the central bank meeting. Markets are also bracing for what is hoped to be the last U.S. interest rate hike for some time.