All the Asian markets were trading in green on Tuesday, with some even showing surge of over a percent, joining the global relief rally and tailing the gains in US Markets overnight. Risk appetite improved as investors shrugged off concerns about Italy's political future following Prime Minister Matteo Renzi's defeat in a referendum. The global rating agency S&P said that Italian referendum outcome may not have immediate implications for Italy’s economic or budgetary policies beyond likely near-term changes in Italian politics. Banking and mining shares in the region have taken the lead and were supporting the upmove.
Shanghai Composite was up by 2.66 points or 0.08% to 3,207.37, FTSE Bursa Malaysia KLCI increased by 3.57 points or 0.22% to 1,628.54, Jakarta Composite was higher by 7.94 points or 0.15% to 5,276.25, KOSPI Index gained 28.02 points or 1.43% to 1,991.38, Nikkei 225 added 78.18 points or 0.43% to 18,353.17, Taiwan Weighted surged by 101.15 points or 1.1% to 9,261.81 and Hang Seng increased by 178.24 points or 0.79% to 22,683.79.