Asian equities exhibit rebound on Tuesday

08 May 2012 Evaluate

After witnessing subdued close in previous session, most of the Asian equity indices showed rebound on Tuesday’s trade. Barring Shanghai and Hang Seng all the Asian counters ended the day’s trade in the positive terrain as investors kept themselves busy in buying battered down fundamentally strong stocks. Meanwhile, Japan’s Nikkei share average rose from a three-month low as investors reassessed the immediate impact of French and Greek poll results, although they remained wary of further flare up in the crisis-hit euro zone.

Meanwhile, Taiwan stocks closed flat on Tuesday, though DRAM maker Nanya Technology gained by the 7-percent daily limit after its technology partner Micron won the right to negotiate exclusively to buy bankrupt Japanese maker Elpida Memory. However, Hong Kong shares suffered a fourth consecutive loss as weakness in Chinese property developers helped reverse early gains in the face of stiff chart resistance formed after Monday's slump.

Asian Indices	Last Trade	Change in Points	Change in %
Shanghai Composite	2,448.88	-3.06	-0.12
Hang Seng	20,484.75	-51.90	-0.25
Jakarta Composite	4,181.07	22.21	0.53
KLSE Composite	1,590.60	5.73	0.36
Nikkei 225	9,181.65	62.51	0.69
Straits Times	2,931.98	7.03	0.24
KOSPI Composite	1,967.01	10.57	0.54
Taiwan Weighted	7,545.71	7.63	0.10

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Asian equities exhibit rebound on Tuesday

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