Asian markets ended mixed on Tuesday amid rising hopes of faster economic recovery globally. Besides, optimism over corporate earnings too supported market sentiments. Japanese shares rose as investors cheered robust earnings from glass product companies and department store operators. Moreover, China’s imports and exports continued their strong rebound in March. Exports increased 30.6 percent year-on-year in March, slower than the forecast of 35.5 percent. Meanwhile, imports advanced 38.1 percent annually, much faster than the expected growth of 23.3 percent. Consequently, the trade surplus fell to $13.8 billion and well below expectations of $52.05 billion. Besides, Federal Reserve chairman Jerome Powell said it’s highly unlikely that they would raise rates this year in an interview with CBS. Powell also commented that vaccinations and federal stimulus have substantially brightened the economic outlook. Meanwhile, Chinese shares settled down because of worries about further liquidity tightening.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,396.47 | -16.48 | -0.48 |
Hang Seng | 28,497.25 | 43.97 | 0.15 |
Jakarta Composite | 5,927.44 | -21.13 | -0.36 |
KLSE Composite | 1,597.71 | -10.71 | -0.67 |
Nikkei 225 | 29,751.61 | 212.88 | 0.72 |
Straits Times | 3,187.90 | 13.97 | 0.44 |
KOSPI Composite | 3,169.08 | 33.49 | 1.07 |
Taiwan Weighted | 16,824.91 | -34.79 | -0.21 |
