Asia Pacific markets gain in early trade taking cues from Wall Street
Asia Pacific markets rose in early trade on Tuesday, following gains on Wall Street overnight as investors remain unfazed by China’s retaliatory actions against the United States.
The Nikkei 225 advanced 0.89% and the Topix index was up 1.15% as the Japanese market returned to trading following a public holiday on Monday.
South Korea’s Kospi index gained 0.93% while Australia’s benchmark ASX 200 was fractionally higher at around 6,114.60.
In economic news, Singapore’s GDP contracted by 42.9% in the second quarter of 2020 compared to the previous quarter. That sent the Southeast Asian country into a technical recession as large parts of the economy were shut down in early April to slow the spread of coronavirus.
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