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Asian markets trade mostly higher in early deals on Tuesday

22 Sep 2015 Evaluate

Most of the Asian equity benchmarks are trading up in the early deals on Tuesday, with investors resorting to bargain-hunting, tracking the overnight gains on Wall Street and European markets as sentiments improved after comments from US Federal Reserve officials hinted at the possibility of an interest rate hike before the end of this year. Meanwhile, Chinese stocks rose for a third day, their longest winning streak in a month, as optimism grew over President Xi Jinping’s state visit to the US and brokerages rallied on prospects of an exchange link between London and Shanghai. Among the other Asian markets, Shanghai, South Korea, Hong Kong, Singapore and Taiwan are up with modest gains. Bucking the trend, Indonesia and Malaysia are down with marginal losses. The markets in Japan remain closed on account of national holiday.

Hang Seng jumped 156.77 points or 0.72% to 21,913.70, Shanghai Composite increased 20.48 points or 0.65% to 3,177.02, Taiwan Weighted spurt 37.07 points or 0.45% to 8,344.11, Straits Times surged 11.85 points or 0.41% to 2,894.12 and KOSPI Index was up by 10.43 points or 0.53% to 1,975.11.

On the flip side, FTSE Bursa Malaysia KLCI declined 2.77 points or 0.17% to 1,636.70 and Jakarta Composite was down by 20.28 points or 0.46% to 4,355.80.

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