(MENAFN– ecpulse)
Asian stocks gained in today`s session backed by better outlook for global recovery, especially after U.S data and cheerful corporate earnings seen recently. Data released Tuesday showed U.S retail sales Ex-inflation rose in July, encouraging traders to have more optimism.
Moreover, the reported earnings helped to push Asian shares upside, having almost half the companies on the MSCI Asia Pacific index posting profits in the last earnings season higher than estimates. Today Singapore Telecommunications (ST) posted first quarter profit beating market forecasts as it came at S$1.01 billion, while the company added it will spend S$2 billion on acquisitions and further expansions.
Finally, Australia`s S&P/ASX 200 index dropped 0.1 percent, while South Korea`s Kospi index rose 0.2 percent and New Zealand`s NZX 50 index fell 0.1 percent. The MSCI Asia Pacific index rose 0.3 percent to record 135.48 as of 9:33 am in Tokyo.
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