Investing.com – Asian stocks were up on Tuesday, erasing early losses amid volatile trade after U.S. markets remained closed for a holiday on Monday.
Hong Kong's Hang Seng Index was up 0.32%; South Korea's Kospi Composite rose 0.57%; and Japan’s Nikkei 225 Index rose 0.77%.
Sentiment was weighed down in early trade by fears over a slowdown in global growth as indicated by recent weak manufacturing data from China, the euro zone and the U.S.
However, as China’s Shanghai Composite Index climbed 1.4%, rebounding from a 15-month low, sentiment across the region turned positive.
Australia’s S&P/ASX 200 Index gained 1.1% as the Commonwealth Bank of Australia, the country’s largest bank in terms of market value, gained 2.1% after the central bank kept its benchmark interest rate unchanged.
The outlook for European equity markets, meanwhile, was rosy: EURO STOXX 50 futures indicated a gain of 0.72%, France’s CAC 40 futures pointed to an increase of 0.58% and Germany's DAX futures indicated a rise of 0.66%.
On Monday, data from the euro zone showed that the Sentix investors sentiment index improved to -1.3 in July from -4.1 the previous month. Analysts had expected a drop to -5.0. Separate data indicated that private sector expansion may have peaked in the second quarter.
Hong Kong's Hang Seng Index was up 0.32%; South Korea's Kospi Composite rose 0.57%; and Japan’s Nikkei 225 Index rose 0.77%.
Sentiment was weighed down in early trade by fears over a slowdown in global growth as indicated by recent weak manufacturing data from China, the euro zone and the U.S.
However, as China’s Shanghai Composite Index climbed 1.4%, rebounding from a 15-month low, sentiment across the region turned positive.
Australia’s S&P/ASX 200 Index gained 1.1% as the Commonwealth Bank of Australia, the country’s largest bank in terms of market value, gained 2.1% after the central bank kept its benchmark interest rate unchanged.
The outlook for European equity markets, meanwhile, was rosy: EURO STOXX 50 futures indicated a gain of 0.72%, France’s CAC 40 futures pointed to an increase of 0.58% and Germany's DAX futures indicated a rise of 0.66%.
On Monday, data from the euro zone showed that the Sentix investors sentiment index improved to -1.3 in July from -4.1 the previous month. Analysts had expected a drop to -5.0. Separate data indicated that private sector expansion may have peaked in the second quarter.