Most of the Asian equity benchmarks are trading higher in the early deals on Tuesday, as a rise in US stock index futures during Asian trades helped soothe investor sentiment and ignore further falls on China's stock market. The Chinese market slumped more than 6 percent in early trades, but has pared early losses. Concerns over slowing growth in China had spurred panic selling across the Asian region on Monday, prompting many to term it ‘Black Monday’. The global sell-off was driven by fears that China's slowing growth might pull down other economies. Among other markets in the Asia-Pacific region, Hong Kong, Malaysia, Singapore, Taiwan, Indonesia and South Korea are trading higher while, Japan market is down marginally.
Hang Seng gained 334.68 points or 1.57% to 21,586.25, KOSPI Index increased 22.67 points or 1.24% to 1,852.48, Jakarta Composite added 82.23 points or 1.97% to 4,245.96, FTSE Bursa Malaysia KLCI spurted by 13.17 points or 0.86% to 1,545.31, Straits Times surged 53.85 points or 1.89% to 2,897.24 and Taiwan Weighted was up by 253.14 points or 3.42% to 7,663.48.
On the flip side, Shanghai Composite tumbled by 133.12 points or 4.15% to 3,076.78 and Nikkei 225 was down by 111.16 points or 0.60% to 18,429.52.