Most of the Asian equity indices are trading higher in the early deals on Tuesday, tracking cues from Wall Street where the major averages ended on a strong note overnight. Expectations of some reforms announcements from China are also contributing to the positive mood in the region. Back on regional front, Japanese stocks jumped on weaker yen, while on the economy front, the M2 money stock in Japan was up 3.4 percent on year at 872.9 trillion yen in April that was in line with forecasts, and down from the upwardly revised 3.6 percent increase in March. Among other markets in the Asia-Pacific region, South Korea is trading notably higher, while Indonesia, Hong Kong and Taiwan are up with modest gains. Shanghai is trading down marginally.
Hang Seng increased by 55.22 points or 0.25% to 22,316.83, Jakarta Composite rose by 12.10 points or 0.25% to 4,925.10, Nikkei 225 spurted by 271.44 points or 1.92% to 14,420.96, Seoul Composite climbed 21.33 points or 1.09% to 1,986.27 and Taiwan Weighted was up by 15.32 points or 0.17% to 8,823.93.
On the flip side, Shanghai Composite was down by 1.24 points or 0.06% to 2,051.64.
Malaysia and Singapore markets remained shut for the trade today for Wesak Day holiday.