Asian markets ended higher with Hang Seng leading the charge. The markets tracked strong performance at the Wall Street. The US government stimulus and the rollout of coronavirus vaccines.
Asian markets opened in the green led by the South Korean 'Kospi' which after almost one-month consolidation look set to resume upside as Chip shortage to drive Corporate earnings. Kospi ended 1.12% higher on Tuesday.
Hong Kong’s Hang Seng advanced around 240 points while SGX Nifty also traded 1.10% higher.
Chinese stocks also rose with Shanghai Composite closing 0.62% higher and Shenzhen ending 0.85% higher. Chinese markets have been seeing collateral damage as their US-listed internet stocks see the worst sell-off in over 1 year. Other Asian Markets like Taiwan, New Zealadn also outperformed as earnings & business outlook improves.
Markets is Australia closed marginally lower while Jakarta and Malaysia were under pressure.
Overnight, Dow Jones closed at fresh all-time highs as markets look for a huge bout of spending from fresh stimulus money & better earnings from Corporates this quarter.
Bond yields also saw the rise as volatility increases as big hedge funds lose money in Chinese internet stocks which see banks tighten liquidity.
Related Tags: