Asian markets settled mostly higher on Tuesday, tracking Wall Street gains overnight after Bank of America posted better than expected third quarter earnings. Market sentiments improved further after Britain’s new finance minister scrapped Prime Minister Liz Truss’s proposed tax cuts and also made changes to spending plans in a bid to calm jittery markets and restore the government's credibility. Meanwhile, Australian markets gained as minutes from the Reserve Bank of Australia's last meeting showed the central bank's decision to slow the pace of interest rate rises was finely balanced. However, Chinese shares slipped after the country delayed the release of its latest economic growth figures amid the week long 20th Communist Party National Congress, while renewed concerns over the zero-Covid policy and US semiconductor blockade also hurt Chinese shares.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,080.96 | -3.98 | -0.13 |
Hang Seng | 16,914.58 | 301.68 | 1.82 |
Jakarta Composite | 6,834.49 | 3.37 | 0.05 |
KLSE Composite | 1,400.36 | 14.09 | 1.02 |
Nikkei 225 | 27,156.14 | 380.35 | 1.42 |
Straits Times | 3,025.88 | 10.13 | 0.34 |
KOSPI Composite | 2,249.95 | 30.24 | 1.36 |
Taiwan Weighted | 13,124.68 | 158.63 | 1.22 |
