Extending their previous sessions’ rally, most of the Asian equity indices are trading in fine fettle in Tuesday’s morning trade after the European Central Bank said it’s ready to cut interest rates further. Japanese Nikkei stock average opened higher by over three percent, resuming trade after a four-day long weekend. However, Chinese benchmark is trading flat after the nation’s HSBC services PMI fell to 51.1 in April from 54.3 in March, with new order expansion the slowest in 20 months and staffing levels in the service sector decreasing for the first time since January 2009.
Shanghai Composite rose 0.34 points or 0.02% to 2,231.51, Hang Seng increased 31.13 points or 0.14% to 22,946.22, Jakarta Composite jumped 28.12 points or 0.56% to 5,019.99, KLSE Composite surged 13.54 points or 0.77% to 1,765.56, Nikkei 225 soared 428.54 points or 3.13% to 14,122.58 and Straits Times was up by 9.43 points or 0.28% to 3,391.72.
On the flip side, KOSPI Composite declined 3.95 points or 0.20% to 1,957.53 and Taiwan Weighted was down by 5.68 points or 0.07% to 8,163.37.
