Asian markets ended higher on Tuesday, as the yen continued to slide against the greenback and oil prices rebounded in Asian trade after steep overnight losses. Investors remained hopeful about the prospects of more central bank stimulus after Japanese Prime Minister Shinzo Abe ordered a new round of fiscal stimulus spending to help overcome consistently weak corporate investment. The Bank of England's monetary policy committee meets on Thursday and expects some action on interest rates for the first time in more than seven years. Japanese shares posted strong gains as hopes for fiscal stimulus weakened the yen to one-week low against the dollar. After a convincing win in Sunday's Upper House election, Prime Minister Shinzo Abe said he would order a fresh round of fiscal stimulus to shore up spending and push consumer prices higher. Hong Kong shares finished up, joining a global equity rally after the US benchmark S&P 500 hit a new high overnight.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,049.38 | 54.46 | 1.82 |
Hang Seng | 21,224.74 | 344.24 | 1.65 |
Jakarta Composite | 5,099.53 | 30.51 | 0.60 |
KLSE Composite | 1,653.97 | 0.10 | 0.01 |
Nikkei 225 | 16,095.65 | 386.83 | 2.46 |
Straits Times | 2,901.82 | 25.68 | 0.89 |
KOSPI Composite | 1,991.23 | 2.69 | 0.14 |
Taiwan Weighted | 8,841.46 | 54.99 | 0.63 |