Asian stocks track Wall Street higher

By FXStreet FXStreet (Mumbai) – Asian indices rebounded on Tuesday, giving back yesterday’s heavy losses in an otherwise quiet session, with a data-light macro calendar for the region and Japanese market closed on a three-day break.

Shanghai composite extends the rally

Risk-on sentiment dominates Asia with the Asian equities trading firmer, taking the positive lead from strong Wall Street as well as European stocks close.

The benchmark Australian S&P/ASX 200 index staged a solid comeback after an over 2.5% drop witnessed on Monday, oil stocks and Australia’s biggest lenders partly undoing previous losses. While markets also cheer upbeat domestic fundamentals, driving the index 0.57% higher to 5,095 points.

The Chinese markets opened higher, with the Shanghai Composite now extending +0.88% to 3,184 points. While Hong Kong’s benchmark Hang Seng index gains 0.77% at 21,927. While Korea’s benchmark Kospi index is up 0.32% to 1,970 points in Seoul.

Japanese markets were closed, with three-consecutive bank holidays taking place from Monday through Wednesday.
For more information, read our latest forex news. …read more

Source:: FX Street