Asian markets traded mostly higher in early deals on Tuesday, boosted by the risk appetite in the market driven by easing geopolitical tensions, encouraging economic data, and accommodative monetary policies. Positive signals from US-China trade talks held in Spain kindled investors’ sentiments. Meanwhile, subdued inflation and a weakening labour market, accelerated expectations on Fed interest rate cut by at least a quarter-point. Rally in technological and financial sector stocks supported the local indices. Japan’s Nikkei advanced with the strong corporate earnings, favourable economic data, and a weaker yen boosting exporters. Meanwhile, Malaysia stock market remained closed on account of Malaysia Day.
Nikkei 225 up by 216.88 points or 0.48% to 44,985.00, Hang Seng rose by 39.44 points or 0.15% to 26,486.00, Taiwan Weighted added by 263.88 points or 1.04% to 25,621.04 and KOSPI Index increased by 41.24 points or 1.21% to 3,448.55.
On the flip side, Straits Times down by 2.89 points or 0.07% to 4,335.53, Jakarta Composite slipped by 21.85 points or 0.28% to 7,915.27 and Shanghai Composite narrowed by 2.41 points or 0.06% to 3,858.09.
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