Asian markets trade mostly higher in early deals on Tuesday
Nikkei up by 128.85 points or 0.24% to 53,880.00
Asian markets traded mostly higher in early deals on Tuesday, kindled by the optimism that more oil tankers could soon pass through the Strait of Hormuz, and retreat in crude oil rates. Asian indices got supported with the rally in technology and automobile sector stocks. Japan’s Nikkei rebounded after three-day consecutive losses, with the positive Wall street overnight and on gains in exporting business with the weakness in local currency yen. Meanwhile, the Bank of Japan is expected to keep its policy rate unchanged this week amid intensifying uncertainty over the Iran war’s impact on the domestic economy.
Nikkei up by 128.85 points or 0.24% to 53,880.00, Straits Times soared by 54.08 points or 1.11% to 4,922.77, Hang Seng lifted by 211.98 points 0.82% to 26,046.00, Taiwan weighted buoyed by 521.09 points or 1.56% to 33,863.60, KOSPI Index lifted by 135.82 points or 2.45% to 5,685.67, Jakarta Composite surged by 85.64 points 1.22% to 7,107.93, and FTSE Bursa Malaysia KLCI index increased by 15.16 points or 0.89% to 1,711.72.
On the flip side, Shanghai Composite curtailed by 1.76 points or 0.04% to 4,083.03.
