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Asian markets trade mostly higher in early deals on Tuesday

30 Apr 2024 Evaluate
Most of the Asian markets traded higher in early deals on Tuesday, kindled by the risk appetite in the market ahead to Federal Reserve’s monetary policy decision this week as preferred inflation gauge came in line with the projections of central bank. Investor sentiments boosted after robust factory data from China and as a private survey pointed that manufacturing sector grew the most in 14 months. Japan’s Nikkei advanced with the positive Wall Street overnight and on optimism after Japanese authorities intervened to support the yen on Monday after it weakened to 160 per dollar. Meanwhile, Japan’s unemployment rate is flat at 2.6%, industrial production jumped more than expected and retail sales growth missed forecasts. Bucking the trend, China’s Shanghai retreated after it notched seven-month highest rate in the session.

Nikkei 225 up by 395.82 points 1.04% to 38,330.58, Straits Times rose by 12.36 points 0.38% to 3,294.41, Hang Seng widened by 35.39 points 0.20% to 17,782.30, Taiwan Weighted added 30.88 points or 0.15% to 20,526.40, KOSPI Index lifted by 15.96 points or 0.59% to 2,703.40, Jakarta Composite soared by 87.45 points or 1.22% to 7,243.23.

On the flip side, Shanghai Composite fell 3.78 points or 0.12% to 3,109.26 and FTSE Bursa Malaysia KLCI down 3.20 points or 0.20% to 1,579.46.

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