(MENAFN– ecpulse)
Asian stocks rose on Tuesday although trading volumes were thin in the absence of Wall Street overnight due to Martin Luther King Day holiday on Monday. Worries over a credit squeeze in China eased improving sentiment across Asia.
- The MSCI Asia Pacific Index rose 0.2% to 139.33 as of 15:32 in Tokyo
In Japan, stocks ended a 3-day losing streak to rebound from one-week low seen on Monday as the yen weakened further approaching the 105-handle, giving support to exporters. Now the attention shifts to Bank of Japan policy meeting on Tuesday.
- Nikkei 225 closed 0.99% higher at 15795.96
- Topix closed 0.16% higher at 1295.95
In China, the central bank injected funds into the market in early trade while the money-market rates fell the most in four weeks which helped shares rebounded from the previous day`s six-month low.
- Shanghai Composite closed 0.86% higher at 2008.31
- Hong Kong’s Hang Seng closed 0.45% higher at 23033.12
In Australia shares reversed the morning losses after the gains banks enjoyed, yet the lower metal prices kept gains limited; in South Korea stocks rose after data showed exports rose in January while the net foreign investment in domestic bonds probably rose.
- The S&P/ASX 200 closed 0.69% higher at 5331.46
- New Zealand’s NZX 50 closed 0.64% higher at 4921.67
- Kospi closed 0.52% higher at 1963.89
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