Asian markets ended mostly higher on Tuesday amid hopes for faster global economic recovery from the corona virus pandemic after expected passage of the US stimulus package, but worries about high inflation kept the market sentiments still under pressure. Japanese shares ended sharply higher as the yen retreated against the US dollar after the release of weak GDP and household spending data. Japan's GDP climbed an annualized 11.7% in the fourth quarter of 2020, missed expectations for an increase of 12.8% following the 22.9% surge in the three months prior. While, the average of household spending in Japan was down 6.1% year-on-year in January, missed expectations for a decline of 2.1% following the 0.6% contraction in December. However, Chinese shares slumped as investors struggled with signs that top financial regulators will take more action to curb debt levels and prevent asset bubbles from forming.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,359.29 | -62.12 | -1.82 |
Hang Seng | 28,773.23 | 232.40 | 0.81 |
Jakarta Composite | 6,199.65 | -48.82 | -0.78 |
KLSE Composite | 1,624.78 | 12.97 | 0.80 |
Nikkei 225 | 29,027.94 | 284.69 | 0.99 |
Straits Times | 3,108.53 | 37.37 | 1.22 |
KOSPI Composite | 2,976.12 | -19.99 | -0.67 |
Taiwan Weighted | 15,853.09 | 32.98 | 0.21 |
