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Asian markets trade mostly higher in early deals on Tuesday

02 Jul 2024 Evaluate
Most of the Asian markets traded higher in early deals on Tuesday, kindled by the optimism ahead of monthly US jobs report this week and a release of the Fed's June meeting minutes. Intensified bets of Fed interest rate cuts also buoyed investments. Market sentiments also boosted after private reports indicating China’s factory growth in June, about three-year high level. Market also keenly eyed on key meeting at China this month, the Third Plenum, which might roll out fresh measures to speed up economic turnaround, with chip tech, investment, and land reform possibly on the cards. Japan’s Nikkei soared for the third straight session after local currency yen depreciated and encouraged more exports.

Nikkei 225 up by 447.30 points 1.13% to 40,078.36, Hang Seng increased by 100.89 points 0.57% to 17,819.50, Straits Times rose by 16.01 points 0.48% to 3,354.58, Jakarta Composite widened by 12.85 points or 0.18% to 7,152.48, Shanghai Composite buoyed 1.05 points or 0.04% to 2,995.78, and FTSE Bursa Malaysia KLCI added 1.27 points or 0.08% to 1,599.47.

On the flip side, Taiwan Weighted down by 161.40 points or 0.70% to 22,897.17, KOSPI Index dipped by 23.80 points or 0.85% to 2,780.51.

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