Asian Shares Mostly Higher Ahead Of US CPI Data, Fed Meeting

RTTNews | 1056天前

(RTTNews) - Asian stocks ended broadly higher on Tuesday, though overall gains remained modest amid caution ahead of key U.S. inflation data and a slew of central bank policy meetings due this week.

Investors are pinning hopes that the Federal Reserve, the European Central Bank and Bank of England all will tone down their hawkish stances to help prevent a potential recession.

Chinese shares fluctuated before finishing marginally lower as a rapid surge in COVID cases in big cities sparked concerns about a new wave of infections. Disappointing bank lending data also weighed on sentiment.

Hong Kong's Hang Seng index jumped 0.68 percent to 19,596.20 on signs of further easing of China's COVID-19 restrictions.

Japanese shares eked out modest gains to hit a two-week high on hopes the Federal Open Market Committee (FOMC) would take a less hawkish stance on rate rises.

The Nikkei average closed 0.40 percent higher at 27,954.85, after having hit a high of 28,116.56 earlier, a level not seen since Dec. 1. The broader Topix index slipped 0.43 percent to 1,965.68.

An overnight weakening of the yen helped lift exporters, with Honda Motor and Sony gaining over 1 percent each. Uniqlo store operator Fast Retailing advanced 1.5 percent.

Seoul stocks ended flat with a negative bias after choppy trading. Top automaker Hyundai Motor fell 2.5 percent and its affiliate Kia lost 4 percent.

Australian markets ended modestly higher, led by banks after a measure of consumer sentiment improved slightly in December.

The benchmark S&P/ASX 200 index rose 0.31 percent to 7,203.30 while the broader All Ordinaries index gained 0.25 percent to settle at 7,389.20.

Bendigo and Adelaide Bank surged 6.9 percent after a positive trading update.

Across the Tasman, New Zealand's benchmark S&P/NZX 50 index climbed 0.83 percent to 11,601.42, with energy stocks leading the surge.

U.S. stocks rose sharply overnight after a New York Fed consumer expectations' survey showed inflation expectations decreased at the short, medium, and longer terms in November.

The Dow climbed 1.6 percent, the tech-heavy Nasdaq Composite rallied 1.3 percent and the S&P 500 added 1.4 percent.

Japanese Market Slightly Higher

The Japanese stock market is slightly higher in post-holiday trading on Tuesday after opening well in the red, extending the gains in the previous three sessions, following the mixed cues from Wall Street overnight. The Nikkei 225 is moving well above the 52,450 level, with gains in exporters and automaker stocks partially offset by weakness in index heavyweights, technology and financial stocks.

RTTNews | 1小时2分钟前

Indonesia Stock Market To Remain Rangebound On Tuesday

The Indonesia stock market bounced higher again on Monday, one session after ending the two-day winning streak in which it had picked up almost 100 points or 1.2 percent. The Jakarta Composite Index now sits just above the 8,275-point plateau and it's likely to see little movement on Tuesday.

RTTNews | 1小时15分钟前

Mild Upside Seen For Hong Kong Stock Market

The Hong Kong stock market on Monday ended the three-day losing streak in which it had dropped more than 520 points or 2 percent. The Hang Seng Index now rests just above the 26,150-point plateau and it's tipped to open in the green on Tuesday.

RTTNews | 1小时30分钟前

Australian Market Notably Lower

The Australian stock market is trading notably lower on Tuesday, reversing the gains in the previous session, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling below the 8,850 level, with weakness in iron ore miners, financial, energy and technology stocks partially offset by gains in gold miners and stocks.

RTTNews | 1小时38分钟前