Most of the Asian markets traded higher in early deals on Tuesday, with the short covering after the recent correction over growing uncertainties over Federal Reserve hawkish monetary policy and global economic health. The market keenly awaited for more cues from the impending speeches from a number of Federal Reserve officials and policy decisions from other major central banks this week. Japan’s Nikkei rebounded after four straight sessional losses with the major exporters higher amid weaker yen. A softer yen pushed up import costs pressuring households and businesses. Chinese index also advanced in the session amid optimism over dovish stance from PoB to stem the wilting economy pressured by Covid-19 related curbs.
Nikkei 225 up by 16.27 points or 0.06% to 27,644.35, Straight times climbed 10.50 points or 0.33% to 3,225.98, Taiwan higher by 7.50 points or 0.05% to 14,668.60, Jakarta Composite jumped by 10.40 points or 0.14% to 7,242.28 KOSPI rose by 2.78 points or 0.12% to 2,406.46, Shanghai lifted by 32.33 points or 1.01% to 3,232.24 and FTSE Bursa Malaysia KLCI added by 2.97 points or 0.20% to 1,492.77.
On flip side, Hang Seng decreased by 80.85 points 0.42% to 19,144.85.
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