Tokyo/Sydney — Asian shares were subdued on Wednesday after US President Donald Trump’s State of the Union speech failed to give markets fresh trading catalysts, while the Australian dollar slumped after the central bank opened the door to a possible rate cut. MSCI’s broadest index of Asia-Pacific shares outside Japan barely moved with China and several other markets in the region still closed for the Lunar New Year holiday. Japan’s Nikkei gained 0.3%, while e-mini futures for the S&P 500 edged higher. Australian shares advanced 0.5%, rising for a third session. The Australian dollar slumped more than 1% to hit a one-week low of $0.7153 after Reserve Bank of Australia (RBA) governor Philip Lowe said the central bank remained optimistic about the economic outlook but acknowledged rates might fall if unemployment were to rise and inflation stay too low. “Over the past year, the next-move-is-up scenarios were more likely than the next-move-is-down scenarios. Today, the probabilities ap...

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