Asian markets traded mostly higher in early deals on Tuesday, buoyed by the risk appetite in the market amidst optimism over ongoing US-China trade talks. Rally in technological, financial and utility sector stocks led gains in local indices. South Korea’s reform-oriented policies under President Lee has lifted the investor confidence in the region. The Hang Seng hovered near a three-month high, supported by expectations that weak CPI and PPI data for May and sluggish exports in China will prompt additional stimulus from Beijing. Japan’s Nikkei extended winning streak to a third straight day as local equities got supported by a weaker yen. A softer yen also enhanced the earnings outlook for Japan’s export-driven sectors and made the domestic assets more attractive to foreign investors.
Nikkei 225 up by 370.37 points or 0.97% to 38,458.94, Hang Seng rose by 61.58 points 0.25% to 24,243.01, Taiwan Weighted higher by 463.46 points or 2.13% to 22,253.75, Jakarta Composite lifted by 86.73 points or 1.22% to 7,200.16, KOSPI Index increased by 20.44 points or 0.72% to 2,876.21, Shanghai Composite jumped by 3.75 points or 0.11% to 3,403.52, and FTSE Bursa Malaysia KLCI added 2.11 points or 0.14% to 1,521.52.
On the flip side, Straits Times down by 4.72 points 0.12% to 3,931.60.
