Asian Markets closed higher amid swearing in of new President-elect Joe Biden anytime this week and the follow-through of big-spending boost stimulus is awaited by most market participants.
However, Chinese stocks sank again after having a good day on Monday with the mid-cap indices closing up nearly 1.5%. On Tuesday, Shanghai Composite closed 0.83% lower at 3,566.38. Shenzhen ended 1.74% down at 15,003.99. Market in Malaysia was also marginally lower.
Otherwise, it was a field day for Asian shares on Tuesday. The markets in Asia opened with gains as the Japanese Nikkei 225 traded higher by over 375 points in early trade. The systematic start of vaccination in almost all countries is seeing reopening trade of people resuming normal lifestyles in the near future which is boosting stocks.
Nikkei closed 391.25 points higher at 28,633.46. South Korean Kospi also gained 78.73 points to finish at 3,092.66. Hong Kong’s Hang Seng gained 770.21 points or 2.67% and SGX Nifty also traded 1.80% higher. Markets in Australia, New Zealand and South East Asia also closed with gains.
US markets closed for holiday on Monday saw futures trade with gains.
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