Asian markets ended mostly higher on Tuesday, despite lack of directional cues from Wall Street which was closed overnight for a Labor Day holiday. Market sentiments improved by expectations that US interest rates would stay low for longer combined with talk of more stimulus in Japan and China. Chinese and Hong Kong shares gained after data showed China’s exports unexpectedly grew at a faster pace in August. Exports from China rose in August at a faster-than-expected rate of 25.6% from a year earlier from a 19.3% gain in July, while imports increased 33.1% annually after rising 28.1 percent in July. As a result, the trade balance showed a surplus of $58.34 billion, which was above the expected level of $51.05 billion and the previous month’s $56.59 billion reading. Moreover, Japanese shares closed higher on expectation that the ruling Liberal Democratic Party will compile additional economic stimulus to tackle the coronavirus crisis and its impact on the economy.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,676.59 | 54.73 | 1.51 |
Hang Seng | 26,353.63 | 190.00 | 0.73 |
Jakarta Composite | 6,112.40 | -14.54 | -0.24 |
KLSE Composite | 1,583.48 | 1.89 | 0.12 |
Nikkei 225 | 29,916.14 | 256.25 | 0.86 |
Straits Times | 3,108.53 | 7.45 | 0.24 |
KOSPI Composite | 3,187.42 | -15.91 | -0.50 |
Taiwan Weighted | 17,428.87 | -66.43 | -0.38 |
