Sentiments remained buoyed in the Asian region with all the major index in the region ended the trade with good gains on Tuesday after European leaders agreed on a treaty aimed at ending huge deficits, but traders remained cautious as Greece continued talks to slash its debt mountain. Leaders of 25 European Union governments agreed on Monday night to move to closer fiscal union and to sign off on the details of a $660 billion permanent bailout fund for the euro zone. In addition, Greek Prime Minister Lucas Papademos said his country has made significant progress in talks with private-sector creditors. Still, some investors remain on edge as a deal remains elusive.
Moreover, stronger-than-expected Japanese industrial-production data supported the Tokyo market, though the yen’s strength continued to hobble exporter stocks. Industrial production rose 4% on month in December, above expectations for a 2.9% rise. The data indicated the effects of Japan’s March 11 earthquake and Thailand’s floods are wearing off.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2,292.61 | 7.57 | 0.33 |
Hang Seng | 20,390.49 | 230.08 | 1.14 |
Jakarta Composite | 3,941.69 | 26.53 | 0.68 |
Nikkei 225 | 8,802.51 | 9.46 | 0.11 |
Straits Times | 2,906.69 | 18.40 | 0.64 |
Seoul Composite | 1,955.79 | 15.24 | 0.79 |
Taiwan Weighted | 7,517.08 | 109.67 | 1.48 |
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