Asian equity benchmarks are trading up in the early deals on Tuesday, following the overnight rally on Wall Street and in European markets amid renewed hopes that the Federal Reserve will delay raising interest rates. Moreover, stability in commodity prices and news that trade ministers from 12 Pacific Rim Countries have signed a new Trans Pacific Partnership trade agreement also boosted risk appetite. Meanwhile, Japan's Nikkei share average rose as expectations that the US Federal Reserve will wait longer to raise interest buoyed investors' risk appetites. The markets in China continue to be closed for the National Day holiday.
Nikkei 225 surged 193.79 points or 1.08% to 18,199.28, Hang Seng gained 27.23 points or 0.12% to 21,881.73, KOSPI Index added 11.60 points or 0.59% to 1,989.85, Jakarta Composite jumped 100.31 points or 2.31% to 4,444.01, FTSE Bursa Malaysia KLCI increased 13.98 points or 0.85% to 1,661.57, Straits Times spurt 31.45 points or 1.10% to 2,882.70 and Taiwan Weighted was up by 52.83 points or 0.63% to 8,405.19.