Forex News

Asian stock markets are trading mixed on Tuesday, following the broadly positive cues from Wall Street overnight, amid lingering uncertainty about the outlook for interest rates following last week's US Federal Reserve meeting. Traders also await the release of the US consumer price inflation data on Thursday, which could affect the outlook for interest rates.

Indian stock markets remain closed today on account of Guru Nanak Jayanti.

The Japanese stock market is sharply higher on Tuesday, extending the gains in the previous session, with the Nikkei 225 moving above the 27,800 level, following the broadly positive cues from Wall Street overnight, led by gains in technology, exporters and financial stocks, even as traders remained cautious amid concerns about the outlook for interest rate hikes.

The Australian stock market modestly higher on Tuesday, extending the gains in the previous two sessions, with the benchmark S&P/ASX 200 moving to nearly the 7,000 mark, following the broadly positive cues from Wall Street overnight, led by gains in technology, gold miners and financial stocks, even as traders remain cautious amid concerns about the outlook for interest rate hikes.

The China stock market has moved higher in back-to-back sessions, gathering more than 80 points or 2.7 percent along the way. The Shanghai Composite Index now sits just above the 3,075-point plateau and it may add to its winnings on Tuesday. The global forecast for the Asian markets is upbeat thanks to receding treasury levels and an improved outlook for interest rates. The European markets were mixed and the U.S. bourses were up and the Asian markets figure to split the difference. The SCI finished slightly higher on Monday following gains from the resource and energy companies, while the financials and properties were mixed. For the day, the index added 7.02 points or 0.23 percent to finish at 3,077.82 after trading between 3,054.46 and 3,088.19. The Shenzhen Composite Index gained 7.69 points or 0.38 percent to end at 2,027.86. Among the actives, Industrial and Commercial Bank of China slid 0.24 percent, while China Construction Bank eased 0.19 percent, China Merchants Bank collected 0.28 percent, Bank of Communications fell 0.44 percent, China Life Insurance jumped 1.77 percent, Jiangxi Copper surged 4.54 percent, Aluminum Corp of China (Chalco) spiked 2.91 percent, Maanshan Iron climbed 1.12 percent, Yankuang Energy strengthened 1.49 percent, PetroChina rallied 2.02 percent, China Petroleum and Chemical (Sinopec) advanced 0.95 percent, Huaneng Power perked 0.14 percent, China Shenhua Energy improved 1.45 percent, Gemdale soared 2.13 percent, Poly Developments slid 0.14 percent, China Vanke gathered 1/35 percent, Beijing Capital dropped 0.97 percent and Bank of China was unchanged.

The Taiwan stock market has climbed higher in two straight sessions, advancing almost 240 points or 1.9 percent along the way. The Taiwan Stock Exchange now rests just above the 13,220-point plateau and it's looking at another solid start for Tuesday's trade. The global forecast for the Asian markets is upbeat thanks to receding treasury levels and an improved outlook for interest rates. The European markets were mixed and the U.S. bourses were up and the Asian markets figure to split the difference. The TSE finished sharply higher on Monday following gains from the financial shares, technology stocks and plastic companies.