Most of the Asian markets traded higher in early deals on Tuesday, due to increased risk appetite in the market after the bets on aggressive monetary tightening by the US Fed got trivialized after US manufacturing activity eased to its weakest pace in 30 months. Moreover, dipping US Treasury bond yields, higher oil rates and short covering at prevailing levels buoyed the investor sentiments. Japan’s Nikkei soared up mirroring positive global cues overnight. However, Japan’s inflation jumped at its fastest pace in since 2014 amid broadening cost pressures.
Nikkei 225 up by 731.04 points or 2.79% to 26,946.83, Straight times rose 24 points or 0.77% to 3,131.09, Taiwan higher by 278.98 points or 2.10% to 13,579.46, KOSPI lifted by 51.84 points or 2.41% to 2,207.33, Jakarta Composite widened by 56.63 points or 0.81% to 7,066.35, and FTSE Bursa Malaysia KLCI added by 8.90 points or 0.64% to 1,406.52.
