Asian equity markets ended mostly in green on Tuesday as the yen weakened for a fourth straight session and US Treasury Secretary Steven Mnuchin said the White House is making steady progress on its tax reform plan. Also, worries over North Korea eased somewhat after US President Donald Trump said that he would be ‘honored’ to meet North Korean leader Kim Jong Un under the right circumstances to defuse tensions over the country's nuclear program. Meanwhile, the US Federal Reserve begins its two-day monetary policy meeting later today, with many expecting the US central bank to leave interest rates unchanged. However, traders will examine the accompanying statement for clues about future rate hikes. Japanese shares ended higher as the yen extended its losing trend and a survey showed Japan's services sector continued to expand in April, although at a slower pace. Though, Chinese shares ended lower after a private survey showed China's manufacturing activity expanded at a slower pace in April on weak output and new orders. The Caixin manufacturing PMI hit a seven-month low of 50.3 in the month.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,143.71 | -10.95 | -0.35 |
Hang Seng | 24,696.13 | 81.00 | 0.33 |
Jakarta Composite | 5,675.81 | -9.49 | -0.17 |
KLSE Composite | 1,778.47 | 10.41 | 0.59 |
Nikkei 225 | 19,445.70 | 135.18 | 0.70 |
Straits Times | 3,211.11 | 35.67 | 1.12 |
KOSPI Composite | 2,219.67 | 14.23 | 0.65 |
Taiwan Weighted | 9,941.27 | 69.27 | 0.70 |