Most of the Asian markets traded higher in early deals on Tuesday, as the Federal Reserve interest rate cut hopes dimmed buoying equity investments. Moreover, positive manufacturing data, and rebound in Chines factory activity also boosted investor sentiments. China’s Factory activity grew the most in 13 months last month. Hang Seng advanced the most among Asian indices with the rally in almost all sectors as the trading resumed after a long weekend. Japan’s Nikkei also rose with the bargain hunting after prior session’s 1.4% fall. Weaker local currency yen also supported foreign investments.
Nikkei 225 up by 5.75 points 0.01% to 39,808.84, Hang Seng soared by 390.11 points 2.30% to 16,931.53, Straits Times rose 12.01 points 0.37% to 3,246.90, Taiwan Weighted surged 204.89 points or 1.01% to 20,427.22, KOSPI Index was higher 3.45 points or 0.13% to 2,750.17, Shanghai Composite increased by 0.95 points or 0.03% to 3,078.33, and FTSE Bursa Malaysia KLCI was up by 5.53 points or 0.36% to 1,549.55.
On the flip side, Jakarta Composite dipped 32.13 points or 0.45% to 7,172.93.
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