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Asian markets trade mostly higher in early deals on Tuesday

12 Jul 2016 Evaluate

Most of the Asian equity benchmarks are trading up in the early deals on Tuesday, a day after Wall Street shares hit a record high, thanks to a combination of upbeat US data and expectations of more stimulus from global policymakers. Meanwhile, Japanese market is sharply higher for a second straight session, following the overnight gains in international markets and on a weaker yen. News that Prime Minister Shinzo Abe will order his cabinet to compile economy-spurring measures also boosted investor sentiment. Among the other Asian markets, South Korea, Singapore, Hong Kong, Indonesia and Taiwan are higher. Bucking the trend, Malaysia and Shanghai are edging lower.

Nikkei 225 added 469.73 points or 2.99% to 16,178.55, Hang Seng rose 105.27 points or 0.50% to 20,985.77, KOSPI Index spurt 1.17 points or 0.06% to 1,989.71, Taiwan Weighted jumped 46.69 points or 0.53% to 8,833.16, Straits Times gained 7.12 points or 0.25% to 2,883.26, and Jakarta Composite was up by 48.48 points or 0.96% to 5,117.50.

On the flip side, FTSE Bursa Malaysia KLCI declined 5.04 points or 0.30% to 1,648.83, and Shanghai Composite was down by 0.03 points to 2,994.88.

 

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