Asian markets settled mostly higher on Tuesday tracking Wall Street gains overnight after a Commerce Department report showed US retail sales rebounded 0.2% in February, after a revised 1.2% decline in January, helping ease recession concerns. Meanwhile, investors are awaiting the outcome of the US Federal Reserve’s two-day meeting concluding Wednesday where interest rates are expected to remain steady at 4.25% to 4.5%. Chinese and Hong Kong shares gained with optimism about China's economy after the latest economic stimulus initiatives. Japanese shares rallied after Warren Buffet’s Berkshire Hathaway Inc increased its stake in five trading houses, while investors are closely watching the Bank of Japan’s two-day monetary policy meeting that began today, with rates expected to remain steady at 0.5%.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,429.76 | 3.63 | 0.11 |
Hang Seng | 24,740.57 | 595.00 | 2.40 |
Jakarta Composite | 6,223.39 | -248.56 | -3.99 |
KLSE Composite | -- | -- | -- |
Nikkei 225 | 37,845.42 | 448.90 | 1.19 |
Straits Times | 3,894.97 | 35.61 | 0.91 |
KOSPI Composite | 2,612.34 | 1.65 | 0.06 |
Taiwan Weighted | 22,271.67 | 153.04 | 0.69 |
