Asian shares bounced modestly on Tuesday as doubts the Federal Reserve would hike interest rates next month, while investors continued to count on more policy stimulus elsewhere in the world.
The MSCI Asia Pacific Index advanced 0.2 percent. Benchmarks in Hong Kong and India were the region’s best performers, climbing about 1 percent. Japan’s Topix index closed little changed following a 2 percent jump in the last session.
Japanese stocks ended marginally lower on Tuesday as the yen's extensive retreat stalled and as investors awaited U.S. job data later this week for more clues on a possible U.S. interest rate hike this year.
The Nikkei slipped 0.1 percent to 16,725.36 points, retreating from strong gains the previous day when it added 2.3 percent following hawkish-sounding comments from Federal Reserve Chair Janet Yellen.
China stocks closed higher on Tuesday as banking shares rebounded, shaking off generally weak earnings reports and concerns about bad loans, although the selling in transport stocks left major indexes little changed.
The rebound in banking shares occurred despite eroding margins and mounting bad loans seen in the latest earnings reports from the sector.
The CSI300 index of the largest listed companies in Shanghai and Shenzhen rose 0.1 percent, to 3,311.99, while the Shanghai Composite Index gained 0.2 pct to 3,074.68 points.
Hong Kong shares bounced on Tuesday amid doubts the Federal Reserve would raise interest rates as soon as September.
The Hang Seng index rose 0.9 percent, to 23,016.11, while the China Enterprises Index gained 1.1 percent, to 9,597.25 points.
Reference: Bloomberg, Reuters
Thai
Eng