Investing.com - Most Asian bourses traded higher Tuesday as traders embraced additional signs that the U.S. economy is recovering, adding to the notion that riskier assets should be embraced. A weaker yen again helped lift Japanese shares.
In Asian trading Tuesday, Japan’s Nikkei 225 jumped 0.61% after USD/JPY peaked above the 91 level, showing some signs of follow through from the U.S. session. The Nikkei has surged about 10% since mid-November Shinzo Abe began campaigning for Japan’s premiership on a platform of increased inflation and unlimited monetary easing.
Hong Kong’s Hang Seng fell 0.04% while the Shanghai Composite added 0.04%. Chinese stocks were hampered by declines in bank shares on news Goldman Sachs, the largest U.S. investment bank, plans to sell a USD1 billion stake in Industrial & Commercial Bank of China.
Elsewhere, Australia’s S&P/ASX 200 Index added 1.1% after the market there reopened following a three-day weekend. Australia's business confidence index climbed to 3 last month from negative 9 in he prior month.
New Zealand’s NZSE50 fell 0.1% after a report released by Statistics New Zealand showed the country’s trade deficit surprisingly narrowed in December. Imports fell to an eight-month low, but still exceeded exports by USD1 billion or NZ1.21 billion. Analysts expected the gap to be wider at NZ1.87 billion.
Exports slid 3.5% due to slack global commodities demand. A strong Kiwi is also seen as one reason New Zealand exports fell last year. For the month of December, New Zealand had a trade surpluse of NZ486 million, well above the deficit of NZ105 million economists expected.
South Korea’s Kospi jumped 0.84% after the index of manufacturing expectations for February rose to 72 from 70 in January.
Meanwhile, Singapore’s Straits Times Index fell 0.12%. S&P 500 futures added 0.13%.
In Asian trading Tuesday, Japan’s Nikkei 225 jumped 0.61% after USD/JPY peaked above the 91 level, showing some signs of follow through from the U.S. session. The Nikkei has surged about 10% since mid-November Shinzo Abe began campaigning for Japan’s premiership on a platform of increased inflation and unlimited monetary easing.
Hong Kong’s Hang Seng fell 0.04% while the Shanghai Composite added 0.04%. Chinese stocks were hampered by declines in bank shares on news Goldman Sachs, the largest U.S. investment bank, plans to sell a USD1 billion stake in Industrial & Commercial Bank of China.
Elsewhere, Australia’s S&P/ASX 200 Index added 1.1% after the market there reopened following a three-day weekend. Australia's business confidence index climbed to 3 last month from negative 9 in he prior month.
New Zealand’s NZSE50 fell 0.1% after a report released by Statistics New Zealand showed the country’s trade deficit surprisingly narrowed in December. Imports fell to an eight-month low, but still exceeded exports by USD1 billion or NZ1.21 billion. Analysts expected the gap to be wider at NZ1.87 billion.
Exports slid 3.5% due to slack global commodities demand. A strong Kiwi is also seen as one reason New Zealand exports fell last year. For the month of December, New Zealand had a trade surpluse of NZ486 million, well above the deficit of NZ105 million economists expected.
South Korea’s Kospi jumped 0.84% after the index of manufacturing expectations for February rose to 72 from 70 in January.
Meanwhile, Singapore’s Straits Times Index fell 0.12%. S&P 500 futures added 0.13%.