Asian stocks rose to a one-year high and European equity index futures gained as prospects for a U.S. interest-rate hike this month remained subdued. Australia’s dollar held gains after a central bank policy meeting. Technology shares were the best performers on the MSCI Asia Pacific Index.
The MSCI Asia Pacific Index rose 0.5 percent as of 7:19 a.m. London time, after advancing 1.3 percent in the last session. Japan’s Topix index climbed to a three-month high, while benchmarks in Hong Kong, India and South Korea rallied to their best levels in more than a year.
Japanese stocks extended gains on Tuesday, helped by buying in such defensive stocks as food companies, but overall trade was subdued as investors waited for U.S. markets to reopen after a holiday.
The Nikkei ended 0.3 percent higher at 17,081.98 points
China stocks closed up on Tuesday supported by consumer staples and automobile shares, but gains were limited on concerns that regulators are moving to reduce leverage in the country's financial markets.
The CSI300 index of the largest listed companies in Shanghai and Shenzhen rose 0.7 percent, to 3,342.63 points, while the Shanghai Composite Index gained 0.6 percent to 3,090.71 points.
Hong Kong shares finished firmer on Tuesday, with the benchmark index rising for a fourth consecutive day as investors continued searching for high yields.
The mood in the Hong Kong market has been buoyed by a flood of capital pouring in from the mainland since last week, as investors there actively hunt for yields in a low-interest rate environment.
Chinese investors are also trying to get a head start on buying Hong Kong shares ahead of the expected November launch of a cross-border investment link between Shenzhen and Hong Kong.
The Hang Seng index rose 0.6 percent, to 23,787.68, while the China Enterprises Index gained 1.1 percent, to 9,938.39 points.
Reference: Reuters, Bloomberg
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