Asian stocks wobbled on Tuesday as the hawkish comments from Fed officials stoked uncertainty about policymakers' intentions less than a week after Fed Chair Janet Yellen had set out a more cautious path to rate increases this year.
Japan shares were rising on a weaker yen against the U.S. dollar. The currency had depreciated during the market’s close, and its continued weakness in early Asian trading Tuesday lifted shares of Japanese exporters. The dollar recently traded around Y112.
The Nikkei rose 1.9 percent to 17,048.55, the highest closing level since March 15.
March 22 - China stocks fell on Tuesday as the market weighed new guidelines on pension products and recent comments by the central bank governor that some short-term speculative funds may be leaving the country. Recent media reports citing People’s Bank of China Governor Zhou Xiaochuan as encouraging individuals to invest personal savings in the stock market were “misinterpretations,” the central bank said in a Weibo post.
China stocks fell on Tuesday as the market weighed new guidelines on pension products and recent comments by the central bank governor that some short-term speculative funds may be leaving the country.
Financial shares, primarily brokerage and insurance stocks, led indices lower.
The CSI300 index fell 0.8 percent, to 3,223.12 points at the end of the morning session, while the Shanghai Composite Index lost 0.8 percent, to 2,995.14 points.
Hong Kong shares finished slightly lower on Tuesday with financial shares leading indexes down, in line with a sell-off in mainland China markets.
The Hang Seng index fell 0.1 percent to 20,666.75 points, while the China Enterprises Index lost 0.3 percent to 8,900.19.
Reference: MarketWatch, Reuters, Bloomberg
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