Asian stocks snapped a three-day winning streak on Tuesday, falling with mixed Chinese trade data and wavering enthusiasm about a peak in global interest rates – though a hike in Australia was taken as likely to be the last in its cycle. Stubbornly high inflation last quarter had markets expecting the 25 basis point hike from the Reserve Bank of Australia, but a softening of language about the outlook rallied bonds and dragged on the Aussie dollar on bets hikes were now finished. MSCI's broadest index of Asia-Pacific shares outside Japan fell 1.2% following a three-day rally that lifted the benchmark by nearly 6%.
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