The broader MSCI AC Asia Pacific was last up 0.2% after swinging between gains and losses

Asian stocks were mixed on Tuesday, with South Korea and Singapore shares leading gains, while investors weighed the Reserve Bank of Australia’s decision to keep interest rates unchanged and renewed concerns over inflation and higher oil prices.

The broader MSCI AC Asia Pacific was last up 0.2% after swinging between gains and losses.

KOSPI gained 0.8% to nearly 6,348, with Samsung Electronics’ 6% advance among the biggest contributors as semiconductor stocks firmed.

TSMC shares added 0.8% after the chipmaker reported a 45% year-over-year jump in July sales, adding to signs of strong demand for AI-related semiconductors.

The broader technology theme remains supported by new evidence of strong AI demand. TSMC reported a 45% jump in July sales, with shares advancing by a modest 0.4%.

Chinese stocks were more subdued. The Shanghai Shenzhen CSI 300 dropped 0.2%, while the Shanghai Composite was little changed. Hang Seng declined 0.7%.

Indonesia was also in focus after President Prabowo Subianto nominated Destry Damayanti as the sole candidate for Bank Indonesia governor.

Jakarta Stock Exchange Composite Index, however, slid almost 1%.

S&P/ASX 200 added 0.3%, after the RBA unanimously kept its cash rate at 4.35%, saying inflation remains too high while acknowledging that economic activity is slowing.

The Australian dollar’s AUD/USD pair steadied after the decision, with investors assessing the central bank’s signal that it remains prepared to adjust policy if inflation risks increase.

IG senior markets analyst Tony Sycamore said 9,000 has now become a key support level and that the ASX 200 could extend gains toward 9,350 if it holds above that level.

However, Sycamore warned that the accelerating earnings season could bring more disappointments than positive surprises, raising the possibility of a retest of the 9,000 support level in the coming weeks.

Investors are also awaiting the Reserve Bank of Australia’s policy decision later Tuesday. The RBA is widely expected to leave the cash rate at 4.35%.

ANZ analysts said they expect the decision to be a unanimous hold, although the board is likely to explicitly consider both a hike and a hold.

They pointed to a higher-than-expected unemployment rate, lower-than-expected inflation relative to the RBA’s May forecasts and softer activity data as reasons to keep rates unchanged.

FTSE Straits Times Singapore gained over 1% to hit a record high after OCBC notched a new high after reporting stronger-than-expected results a day earlier.