(MENAFN– ecpulse)
Gains spread across Asia on Tuesday as the market found support from positive US earnings and the weaker yen also supported gains in Japan.
Asia’s MSCI Pacific Index added 0.6% to 135.70 as of 17:45 in Tokyo as gains spread across sectors. The weaker yen powered the gains in Japan leading the gains in the region after a push from positive US earnings and positive ending for the US markets yesterday.
Nikkei settled higher by 0.64% at 14599.12 rebounding from early lows set at 14550.89. Gains were led by Technology and Telecommunications with only Consumer Services ending lower.
China’s CSI 300 also ended higher with the benchmark ending the session at 2317.85 adding 0.46% and Hang Send ended nearly flat around 21312.38.
Australian shares ended slightly higher after the RBA said the policy at the time is appropriate according to the minutes for the last meeting , trimming bets for a rate cut soon. The ASX 200 ended slightly higher by 0.10% at 4986.02.
The gains in the region offset the losses in India where shares declined after the bank raised interest rates . The RBI raised two rates by 2 percentage points and also plans to absorb 120 billion rupees through open market operations to help stave off rupee losses that plunged to a record low.
The central bank’s move supported the currency as the rupee rose nearly 1.2% while stocks suffered heavy losses, the SENSEX 30 index slid to the low of 19649.58 and rebounded off early lows to trade around 19878.81 now down nearly 115 points or 0.76%.
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