Asian stocks rise as Wall Street pulls back three-day streak.
Asia-Pacific markets rose on Tuesday, following moves on Wall Street as US markets finished their three-day streak of losses.
Australia’s S&P/ASX 200 rose 1.04 percent and Japan’s Nikkei 225 rose 0.53 percent, while Topix saw a smaller gain of 0.23 percent.
South Korea’s Kospi led gains in the region among benchmark indices, rising 1.23 percent while Kosdaq rose 1.52 percent.
Hong Kong’s Hang Seng index expanded Monday’s gains by 0.75 percent, while mainland Chinese markets also advanced. The Shanghai Composite Index rose 0.21 percent and the Shenzhen Component Index rose marginally.
Investors are gearing up for a slew of inflation data later in the week, including June inflation figures from the US, which will provide clues as to the Fed’s walking path.
There is also the expectation that “the current cycle of monetary policy tightening is nearing the end”, comments from Fed officials suggesting that interest rates will need to be raised further to curb still-too-high inflation.
Overnight in the US, the Dow Jones Industrial Average led gains, up 0.62 percent, while the S&P 500 rose 0.24 percent and the Nasdaq Composite rose 0.18 percent.