Asian stock markets mixed

Asia-Pacific markets were mixed on Tuesday as most markets bounced back from Labor Day. Investors will be watching closely to see if the Reserve Bank of Australia will continue to raise interest rates after keeping its benchmark policy rate steady at 3.6% at its April meeting. Australia's S&P/ASX 200 fell 0.17% as financial stocks lost ground ahead of the central bank's decision. Japan's Nikkei 225 erased earlier gains and was down marginally, and the Topix fell 0.35%. South Korea's Kospi rose 0.6% as the country's inflation rate eased to a 14-month low of 3.7%. The Kosdaq rose 1.34%. Hong Kong's Hang Seng index rose 0.1%, while the Hang Seng Tech index added 0.25%. Mainland Chinese markets were closed on Tuesday for a holiday. Overnight, U.S. stocks fell after JPMorgan Chase took over First Republic Bank in the country’s biggest bank failure since 2008. The deal comes in a crucial week for Wall Street ahead of the Fed’s interest rate decision. The Dow Jones Industrial Average fell 0.14 percent, the S&P 500 fell 0.04 percent and the Nasdaq Composite fell 0.11 percent.