Most of the Asian equity indices are trading higher in early deals on Tuesday, as investors opted to take positions in beaten down but fundamentally strong stocks after recent sharp losses. However, gains on the up-side remained capped for most of the markets in the region, as the mood remains cautious amid lingering concerns about the global economic outlook. Japanese Nikkei was trading in green as the yen weakened against the dollar. On the economic front, the Bank of Japan reported that an index measuring corporate service prices in Japan were up 1.3 percent on year in December, coming in at 97.0. That's up from the upwardly revised 1.2 percent increase in November.
Shanghai Composite rose 1.56 points or 0.08% to 2,034.86, Hang Seng increased 20.05 points or 0.09% to 21,996.15, Jakarta Composite jumped 18.50 points or 0.43% to 4,341.28, Nikkei 225 surged 31.39 points or 0.21% to 15,037.12, Straits Times added 7.05 points or 0.23% to 3,049.48 and Seoul Composite was up by 5.14 points or 0.27% to 1,915.48.