Investing.com – Asian stock markets were broadly higher on Tuesday, after a flurry of Chinese data eased fears that the region’s economic growth was slowing, while shares in Tokyo advanced after the Bank of Japan expanded its special lending facility.
During late Asian trade, Hong Kong's Hang Seng Index gained 0.35%, South Korea's Kospi Composite jumped 1.37%, while Japan’s Nikkei 225 Index gained 1.05%.
Earlier in the day, official data showed that Chinese consumer price inflation rose broadly in line with expectations to 5.5% in May. Separate data showed that industrial production slowed less than expected, easing concern that Beijing would step up efforts to cool growth.
Shares in the financial sector in Hong Kong gained after the release of the data, with shares in China’s largest lender Industrial and Commercial Bank of China climbing 1.35%, while Bank of China Hong Kong saw shares rise 1.2%.
Meanwhile, the Bank of Japan left its benchmark interest rate unchanged in a range of 0.0% to 0.1%, broadly in line with expectations. The central bank said that it was expanding its special lending facility, introduced last summer, for industries seen as promoting economic growth.
Japan’s largest lender Mitsubishi UFJ Financial Group jumped 2.2%, Sumitomo Financial Group gained 2.25%, while Mizuho Financial saw shares add 1.65%.
Shares in troubled nuclear power plant operator Tokyo Electric Power Company soared 25.1% after the government approved a bill to help TEPCO compensate victims of the Fukushima nuclear accident.
Financial Services Minister Shozaburo Jimi said the government will provide loan guarantees to ensure Tokyo Electric is able pay reparations following the worst nuclear accident in 25 years.
Shares in rival Chubu Electric Power surged 13.4% after the Nikkei newspaper reported that it was close to winning an order for a gas-fired combined-cycle power plant in Oman with a Qatari utility.
The outlook for European stock markets was upbeat. The EURO STOXX 50 futures pointed to a gain of 0.9%, France’s CAC 40 futures rose 0.8%, the FTSE 100 futures was up 0.75%, while Germany's DAX futures indicated a gain of 0.95%.
Later in the day, the U.S. was to publish official data on retail sales and producer price inflation.
During late Asian trade, Hong Kong's Hang Seng Index gained 0.35%, South Korea's Kospi Composite jumped 1.37%, while Japan’s Nikkei 225 Index gained 1.05%.
Earlier in the day, official data showed that Chinese consumer price inflation rose broadly in line with expectations to 5.5% in May. Separate data showed that industrial production slowed less than expected, easing concern that Beijing would step up efforts to cool growth.
Shares in the financial sector in Hong Kong gained after the release of the data, with shares in China’s largest lender Industrial and Commercial Bank of China climbing 1.35%, while Bank of China Hong Kong saw shares rise 1.2%.
Meanwhile, the Bank of Japan left its benchmark interest rate unchanged in a range of 0.0% to 0.1%, broadly in line with expectations. The central bank said that it was expanding its special lending facility, introduced last summer, for industries seen as promoting economic growth.
Japan’s largest lender Mitsubishi UFJ Financial Group jumped 2.2%, Sumitomo Financial Group gained 2.25%, while Mizuho Financial saw shares add 1.65%.
Shares in troubled nuclear power plant operator Tokyo Electric Power Company soared 25.1% after the government approved a bill to help TEPCO compensate victims of the Fukushima nuclear accident.
Financial Services Minister Shozaburo Jimi said the government will provide loan guarantees to ensure Tokyo Electric is able pay reparations following the worst nuclear accident in 25 years.
Shares in rival Chubu Electric Power surged 13.4% after the Nikkei newspaper reported that it was close to winning an order for a gas-fired combined-cycle power plant in Oman with a Qatari utility.
The outlook for European stock markets was upbeat. The EURO STOXX 50 futures pointed to a gain of 0.9%, France’s CAC 40 futures rose 0.8%, the FTSE 100 futures was up 0.75%, while Germany's DAX futures indicated a gain of 0.95%.
Later in the day, the U.S. was to publish official data on retail sales and producer price inflation.