Most of the Asian equity benchmarks traded higher in early deals on Tuesday, cheered up with the positive trend in Wall Street overnight with the stronger than expected corporate earnings figure and on reports that President Joe Biden’s economic agenda is on track. Market sentiments also got a boost with the news that HSBC pegged a profit of 74% for the quarter to September and Evergrande announced that it has resumed work on over 10 projects. Technological shares are in green in the market, while the banking stocks are mixed. Japan’s Nikkei is significantly higher with the optimism over global health in midst of strong earnings news from several big-name US companies. Among the Asian stocks, Japan, South Korea, Indonesia, Taiwan and China are trading in green. Bucking the trend, Hong Kong, Singapore and Malaysia are in negative territory.
Nikkei 225 up by 531.56 points or 1.86% to 29,131.97, KOSPI enlarged by 23.86 points or 0.79% to 3,044.40, Jakarta Composite is lifted by 38.03 points or 0.57% to 6,663.73, Taiwan Weighted rose by 141.84 points or 0.84% to 17,036.08, and Shanghai Composite climbed by 3.02 points or 0.08% to 3,612.88.
On the flip side, Straight times narrowed by 6.07 points or 0.19% to 3,195.79, Hang Seng curtailed by 103.09 points or 0.39% to 26,028.94, FTSE Bursa Malaysia KLCI dipped by 3.99 points or 0.25% to 1,583.95.
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