Asian equities were largely in positive territory on Tuesday, rebounding from Wall Street’s recent contraction where the S&P 500 and Nasdaq Composite descended from their previous highs.
Investors weighed China’s announcement of intensified fiscal measures along with a moderately eased monetary policy aimed at spurring domestic demand in the coming year.
China’s CSI 300 index surged by 1.87% during trading hours, while the Hang Seng index in Hong Kong experienced a 1.5% rise and the Shanghai Composite notched a 1.72% gain. These advances followed a significant jump the previous evening, triggered by the fiscal and monetary policy changes disclosed in an official communiqué after mainland markets had shut.
Market participants are also keenly anticipating the Australian central bank’s interest rate decision. According to a Reuters survey, it is widely expected that the Reserve Bank of Australia will sustain its policy rate at 4.35% for the tenth successive meeting. However, the uncertainty reflects on Australia’s S&P/ASX 200, which saw a 0.64% decline in trading.
Meanwhile, Japan’s Nikkei 225 ticked up 0.1%, with the broader Topix index adding 0.15%. South Korea’s Kospi stood out with a robust gain of 2.25%, demonstrating strong regional optimism.
Thailand’s SET Index closed on Tuesday for a holiday.
