chinese markets to pause trade for 3 minutes on tuesday as nation mourns for former leader chinese financial markets will pause trade for three minutes on tuesday morning to mourn former president jiang zemin who died last week according to a notice on the peoples bank of chinas website the move is to show incomparable respect and deep condolences to jiang the notice said trading in gold foreign exchange interbank bond markets and more will stop for three minutes during a memorial a notice on the peoples bank of chinas website said without specifying the time australias central bank is expected to raise its cash rate by 25 basis points to 31 on tuesday according to economists polled by reuters that would be the reserve bank of australias eighth hike this year and the third consecutive hike of 25 basis points since october in a statement following its november meeting the rba said the full effect of the series of cash rate hikes lie ahead meanwhile matt simpson senior market analyst at city index said theres potential for a pause in rate hikes further ahead the case for a pause is certainly building he said some measures of inflation expectations are moving lower and the monthly inflation print suggests inflation has peaked inflation in australia remains well above the rbas target of between 2 and 3 though it saw slight easing in october according to the central banks monthly consumer price indicator stocks finished lower monday as fears mounted that the federal reserve will continue hiking rates the dow jones industrial average slid 48278 points or 14 to finish at 3394710 the sp 500 shed 179 to settle at 399884 while the nasdaq composite tumbled 193 to close at 1123994