Asian markets traded mostly higher in early deals on Tuesday, kindled by the risk appetite in the market followed by upbeat corporate earnings results and on optimism over regional growth. Deflation risk of China eased after consumer inflation touched a near three-year high, albeit producer prices fell more moderately. Japan’s Nikkei soared to a new all-time high as it reopened after a holiday-extended weekend. Weaker local currency yen spurred foreign inflows and gains in export-oriented business of the country. Japanese firms are seen as major beneficiaries of advances in artificial intelligence and other cutting-edge technologies.
Nikkei 225 surge by 1,783.11 points or 3.43% to 53,723.00, Straits Times up by 21.45 points or 0.45% to 4,788.23, Hang Seng soared by 291.52 points 1.08% to 26,900.00, Taiwan weighted rose by 149.34 points or 0.49% to 30,716.63, KOSPI Index increased by 29.41 points or 0.64% to 4,654.20, Jakarta Composite widened by 45.98 points 0.52% to 8,930.70, and FTSE Bursa Malaysia KLCI index jumped by 8.62 points or 0.51% to 1,704.06.
On the flip side, Shanghai Composite down by 1.45 points or 0.03% to 4,163.84.
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