Most of the Asian equity benchmarks traded higher in early deals on Tuesday, kindled by the risk appetite in the market amid economic rebound optimism ahead to the trade data from China, US inflation data and second-quarter earnings reading. Moreover, positive trend in wall street overnight also lifted the Asian stocks. Technical sector stocks faced sell off in the session, while financial and miners were mostly higher in the session. Japan’s Nikkei extended its gains from previous session, with the benchmark just above the 28,700 level. Exporters were mostly higher amid softer local currency yen. Among the Asian markets, Japan, Singapore, Hong Kong Taiwan, South Korea, China and Malaysia, are trading higher. Bucking the trend, Indonesia is in lower note.
Nikkei 225 up by 151.93 points or 0.53% to 28,720.95, Straits Times widened 20.89 points or 0.66% to 3,168.03, Hang Seng higher by 512.24 points or 1.86% to 28,027.48, KOSPI added 22.57 points or 0.70% to 3,269.04, Taiwan Weighted rose by 68.06 points or 0.38% to 17,882.39, Shanghai Composite enlarged by 8.43 points or 0.24% to 3,556.27 and FTSE Bursa Malaysia KLCI widened by 4.53 points 0.30% to 1,517.42.
On the flip side, Jakarta Composite down by 7.88 points 0.13% to 6,070.69.