Investing.com - Most Asian stocks rallied Tuesday after a spate of encouraging regional data points gave traders reason to embrace riskier assets.
In Asian trading Tuesday, Japan’s Nikkei 225 surged 2.79 after the Bank of Japan said that Japan’s monetary base rose to 42% in August from 38% in July. Analysts expected an increase to 41.3% last month.
In a separate report, the Japanese Ministry of Health, Labour and Welfare said that Japan’s average cash earnings rose 0.4% in the second quarter following a first-quarter increase of 0.6%. The first-quarter quarter figure was revised up from a gain of 0.1%. Economists expected a second-quarter increase of 0.8%.
Those data points arrived a day after Japanese data showed that capital spending was flat in the second quarter, compared to expectations for a 2% decline, after a 3.9% drop in the three months to March.
Hong Kong’s Hang Seng jumped 1.08% while the Shanghai Composite added 0.78%. The National Bureau of Statistics said Tuesday China's official purchasing managers' index (PMI) for the non-manufacturing sector fell to 53.9 last month from 54.3 in July. Readings above 50 indicate expansion.
In a separate report, Hong Kong’s Census and Statistics Department said retail sales there fell 9.5% last month after a 14.7% July increase. Analysts expected an August decline of 14%.
S&P/ASX 200 Index added 0.2% after the Australian Bureau of Statistics said that Australian retail sales rose 0.1% last month after remaining flat in July. Analysts expected an August increase of 0.4%.
In a separate report, the Bureau of Statistics said that Australia’s current account balance fell to a deficit of AUD9.4 billion at the end of the second quarter from a deficit of AUD8.7 billion. The first-quarter figure was revised down from AUD8.5 billion. Analysts expected a second-quarter deficit of AUD8.7 billion.
The Reserve Bank of Australia also meets today with most traders expecting the central bank to leave rates steady after RBA lowered its benchmark interest rate to a record low 2.5% last month.
New Zealand’s NZSE 50 rose 0.18% while South Korea’s Kospi advanced 0.52%. Singapore’s Straits Times Index was flat. S&P 500 futures soared 0.96%. U.S. markets were closed Monday in observance of the Labor Day holiday.
In Asian trading Tuesday, Japan’s Nikkei 225 surged 2.79 after the Bank of Japan said that Japan’s monetary base rose to 42% in August from 38% in July. Analysts expected an increase to 41.3% last month.
In a separate report, the Japanese Ministry of Health, Labour and Welfare said that Japan’s average cash earnings rose 0.4% in the second quarter following a first-quarter increase of 0.6%. The first-quarter quarter figure was revised up from a gain of 0.1%. Economists expected a second-quarter increase of 0.8%.
Those data points arrived a day after Japanese data showed that capital spending was flat in the second quarter, compared to expectations for a 2% decline, after a 3.9% drop in the three months to March.
Hong Kong’s Hang Seng jumped 1.08% while the Shanghai Composite added 0.78%. The National Bureau of Statistics said Tuesday China's official purchasing managers' index (PMI) for the non-manufacturing sector fell to 53.9 last month from 54.3 in July. Readings above 50 indicate expansion.
In a separate report, Hong Kong’s Census and Statistics Department said retail sales there fell 9.5% last month after a 14.7% July increase. Analysts expected an August decline of 14%.
S&P/ASX 200 Index added 0.2% after the Australian Bureau of Statistics said that Australian retail sales rose 0.1% last month after remaining flat in July. Analysts expected an August increase of 0.4%.
In a separate report, the Bureau of Statistics said that Australia’s current account balance fell to a deficit of AUD9.4 billion at the end of the second quarter from a deficit of AUD8.7 billion. The first-quarter figure was revised down from AUD8.5 billion. Analysts expected a second-quarter deficit of AUD8.7 billion.
The Reserve Bank of Australia also meets today with most traders expecting the central bank to leave rates steady after RBA lowered its benchmark interest rate to a record low 2.5% last month.
New Zealand’s NZSE 50 rose 0.18% while South Korea’s Kospi advanced 0.52%. Singapore’s Straits Times Index was flat. S&P 500 futures soared 0.96%. U.S. markets were closed Monday in observance of the Labor Day holiday.