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Asian markets trade mostly higher in early deals on Tuesday

23 Jan 2024 Evaluate
Most of the Asian markets traded higher in early deals on Tuesday, kindled by the technological sector rally with the positive Wall Street overnight. Renewed pledge by China’s cabinet to stabilize the capital markets also supported investor confidence. Market sentiments also got boosted ahead of US economic data release this week which might aid to gauge the path of interest rates. Hang Seng surged the most among Asian indices due to technical buying after its 15-month low hit in the prior session. Japan’s Nikkei is trading near its 34 year high ahead to the Bank of Japan’s policy decision. BoJ is expected to retain its ultra-dovish monetary policy stance, while markets look for cues about a possible policy shift in the future.

Nikkei 225 up by 50.85 points or 0.14% to 36,597.80, Hang Seng ose 368.72 points 2.41% to 15,329.90, Straits Times climbed 1.21 points 0.04% to 3,150.33, KOSPI Index buoyed 10.55 points or 0.43% to 2,474.90, and FTSE Bursa Malaysia KLCI added by 6.16 points or 0.41% to 1,497.35.

On the flip side, Taiwan Weighted down 9.01 points or 0.05% to 17,806.09, Jakarta Composite dipped by 23.13 points or 0.32% to 7,224.80, and Shanghai Composite curtailed by 9.60 points or 0.35% to 2,746.74.

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