Australia's Central Bank Surprises with Rate Hike to Combat Inflation

Australia's S&P/ASX 200 fell 1% after the central bank surprised markets and raised its cash rate by 25 basis points to 4.1%. In Japan, the Nikkei 225 bucked the trend and continues its run above the 32,000 mark, gaining 0.52%, and the Topix was up 0.32%. Shares of Taiwan Semiconductor Manufacturing Co climbed slightly after U.S. tech giant Apple announced its new Mac Pro will use Apple silicon. The Securities and Exchange Commission filed 13 charges against crypto exchange Binance and co-founder Changpeng Zhao. U.S. regulators are reportedly planning to lift capital requirements for big banks in the wake of a slew of bank collapses earlier in the year.