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Asian markets trade higher in early deals on Tuesday

12 Dec 2023 Evaluate
Asian markets traded higher in early deals on Tuesday, supported by the bargain hunting after previous sessional correction and on optimism over benchmark interest rate trimming by early next year. Major monetary policy meeting decisions of central banks like Fed, ECB, and BoE are due this week. Investors also braced for key US inflation data to be released today. Hang Seng rose the most among Asian indices after three straight sessional declines and 13 month low hit. IMF’s remark that China's economy to meet official target growth of 'around 5%' this year also lifted the index. Investor sentiments also boosted ahead to release of Chinese industrial production, retail sales and unemployment figure due this week. While medium-term lending rate decisions from the People’s Bank of China is due next week. Japan’s Nikkei also advanced after second straight sessional losses and on optimism over continued dovish BoJ monetary policy. 

Nikkei 225 up by 70.61 points 0.22% to 32,862.41, Straits Times rose 12.90 points or 0.42% to 3,103.10, Hang Seng climbed 137.02 points 0.84% to 16,338.51, Taiwan Weighted lifted 11.69 points or 0.07% to 17,430.03, KOSPI Index jumped 11.42 points or 0.45% to 2,536.78, Jakarta Composite added by 8.27 points or 0.12% to 7,097.06, and Shanghai Composite increased by 1.92 points or 0.06% to 2,993.36.

On the flip side, FTSE Bursa Malaysia KLCI down by 1.11 points or 0.08% to 1,445.28.

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