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Asian counters continue northward journey on Tuesday

03 Apr 2012 Evaluate

Sentiments continued to remain jubilant for yet another day in Asian region and most of the Asian equity markets snapped the day’s trade in the positive terrain on Tuesday after solid manufacturing data from the United States offsetting signs of mild recession in Europe. The data came a day after China’s official PMI showed a surprise surge to a one-year high, providing some much-needed relief from recent concerns about a severe slowdown in the world’s number two economy, a key engine of global growth.

Meanwhile, Hong Kong stocks rebounded after a four-day losing streak as strength in the Chinese property sector after several leading developers reported rising sales figures in March from the month before. While, Seoul shares climbed to a two-week high, tracking a rally in global equities after strong manufacturing data from the United States gave confidence to global growth prospects. However, Japanese Nikkei share average fell on Tuesday but remained above 10,000 level, with the yen’s climb to a three-week high against the dollar prompting investors to lock in profits on blue-chip exporters that have logged sharp gains since January.

Stock market in China remained closed for public holiday and will reopen on Thursday.

Asian Indices

Last Trade

Change in Points

Change in %

Hang Seng

20,790.98

268.72

1.31

Jakarta Composite

4,215.44

49.37

1.19

KLSE Composite

1,606.63

2.85

0.18

Nikkei 225

10,050.39

-59.48

-0.59

Straits Times

3,014.98

-1.09

-0.04

Seoul Composite

2,049.28

19.99

0.99

Taiwan Weighted

7,760.85

-102.05

-1.30

Shanghai Composite

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