Snapping their four day’s losing streak, all the Asian equity indices ended the trade in the positive terrain on Tuesday as investors turned optimistic ahead of the meetings of Euro-zone policymakers and the wider group of seven (G7) industrialized nations. A group of G-7 finance ministers and central bankers will hold a teleconference later on Tuesday to talk about strains in the 17-nation euro-zone, with Spain expected to be a focus of discussion. Moreover, investors are also hoping for 25 basis points rate cut by European Central Bank at its rate-setting meeting later in the week.
Meanwhile, Hang Seng and Nikkei ended the trade with a gain of 0.40% and 1.04% respectively, partly on short-covering ahead of emergency G7 talks on the euro zone debt crisis. Moreover, Chinese Shanghai ended marginal higher on Tuesday, as investors remained cautious after the index posted its biggest percentage fall in six months on Monday due to worries over a slowdown in the domestic economy.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2,311.92 | 3.37 | 0.15 |
Hang Seng | 18,259.03 | 73.44 | 0.40 |
Jakarta Composite | 3,717.88 | 63.29 | 1.73 |
KLSE Composite | 1,560.36 | 5.18 | 0.33 |
Nikkei 225 | 8,382.00 | 86.37 | 1.04 |
Straits Times | 2,712.31 | 13.41 | 0.50 |
KOSPI Composite | 1,801.85 | 18.72 | 1.05 |
Taiwan Weighted | 7,000.45 | -105.79 | 1.53 |