Asian equity markets are rallying in early deals on Tuesday after Chinese central bank has injected emergency funding support to commercial banks in order to cater to rising demand for cash ahead of the Chinese New Year. Moreover, the Japanese Nikkei is trading higher for the first time in four sessions, up by around one and a half percent, as a weaker yen boosted stocks of exporters as well as automakers. On the economic front, the Bank of Japan has started two days monetary policy meeting on Today. Later in the day, Japan will announce December numbers for condominium sales and supermarket sales. In November, they were up 22.3 percent and 0.7 percent on year, respectively.
Shanghai Composite rose 12.71 points or 0.64% to 2,003.96, Hang Seng surged 129.84 points or 0.57% to 23,058.79, Jakarta Composite increased 15.21 points or 0.34% to 4,446.78, KLSE Composite strengthened 8.51 points or 0.47% to 1,816.10, Nikkei 225 soared 209.26 points or 1.34% to 15,850.94, Straits Times jumped 11.30 points or 0.36% to 3,140.09, Seoul Composite added 8.69 points or 0.44% to 1,962.47 and Taiwan Weighted was up by 4.22 points or 0.05% to 8,625.78.