Most of the Asian equity benchmarks are trading up in the early deals on Tuesday, following the overnight gains on Wall Street on the back of China’s new economic stimulus as well as strong corporate earnings results. While, the euro was pressured on rising worries a cash-strapped Greece may default on its debt. The Japanese stock market rose as growing hopes for strong corporate earnings drove up exporters such as Toyota Motor and Panasonic Corp and a weaker yen. Among the other Asian markets, Hong Kong, South Korea, Singapore, Indonesia, Shanghai and Malaysia are up with modest gains. Meanwhile, KOSPI Index and Taiwan are marginally lower.
Nikkei 225 rose 182.72 points or 0.93 % to 19,817.21, Hang Seng increased 574.82 points or 2.12% to 27,669.75, FTSE Bursa Malaysia KLCI surged 7.26 points or 0.39% to 1,855.92, Shanghai Composite added by 36.47 points or 0.86% to 4,253.55, Straits Times jumped 6.28 points or 0.18% to 3,509.53 and Jakarta Composite was up by 18.42 points or 0.34 % to 5,419.22
On the flip side, KOSPI Index declined 1.08 points or 0.05% to 2,145.63 and Taiwan Weighted was down by 10.07 points or 0.11% to 9,542.78.