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Asian Stocks Move Lower; RBA Cuts Rates to New Record

Asian stock indices were largely lower on Tuesday, with Hong Kong trading suspended because of a typhoon warning, after the Reserve Bank of Australia cut the benchmark lending rate to a new record low.

The RBA, as expected, chopped 25 basis points off the rate, taking it to 1.5%, after an identical cut in May. The central bank cited sluggish inflation. The moved followed news of a bigger-than-expected Australian...