Asia Stocks End Mixed on Australia Rate Cut

Updated from 12:59 a.m. EDT

Asian markets recovered from earlier losses Tuesday after Australia's central bank cut its benchmark interest rate by one percentage point to 6.0%, leading investors to hope for a coordinated worldwide cut in rates.

In Australia, the S&P/ASX 200 closed 78.30 points higher, or 1.7%, to 4618.70. Australia's cut in interest rates was its biggest reduction since a recession in 1992.

Japan's Nikkei 225 stock average fell below 10,000 intraday for the first time since December 2003, following the lead of the U.S. market which suffered deep losses on Monday. The Nikkei closed down 3% to 10,155.90, its fourth-straight day of losses. ...