Sentiments remained bullish in the Asian region and all the equity indices rallied on Tuesday with major indices garnered gain of over a percentage point on signs that the US economy may be strengthening. Improving economic data out of the US was one key factor working in favor of markets. The US added 200,000 jobs in December in a burst of hiring that drove the unemployment rate down two notches to 8.5 percent, its lowest in almost three years.
Chinese benchmark Shanghai Composite surged over two and half a percent on Tuesday, after weaker-than-expected China trade data boosted hopes that Beijing would relax monetary policy to contain a slowdown in the world's second-largest economy moreover, Seoul index rose about one and half a percent as investors relished the prospect of stimulus moves by the Chinese government following weaker than expected trade data and hints of policy easing.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2,285.74 | 59.85 | 2.69 |
Hang Seng | 19,004.28 | 138.56 | 0.73 |
Jakarta Composite | 3,938.84 | 49.77 | 1.28 |
Nikkei 225 | 8,422.26 | 31.91 | 0.38 |
Straits Times | 2,719.83 | 28.55 | 1.06 |
Seoul Composite | 1,853.22 | 26.73 | 1.46 |
Taiwan Weighted | 7,178.87 | 85.83 | 1.21 |