Asian stocks closed higher on Tuesday (20), after Wall Street showed a modest recovery on Monday in the wake of recent losses, as investors await a new interest rate hike in the US.
Japan’s Nikkei stock index rose 0.44% in Tokyo on Tuesday to 27,688.42 points as it returned from a national holiday, while the Hang Seng rose 1.16% in Hong Kong to 18,781.42 points. The South Korean Kospi gained 0.52% in Seoul, at 2,367.85 points, and the Taiex registered a gain of 0.86% in Taiwan, at 14,549.30 points.
In mainland China, the Shanghai Composite was up 0.22% to 3,122.41 points, and the less comprehensive Shenzhen Composite was up 1.07% to 2011.66 points.
Risk appetite in Asia gained strength after New York stocks ended business Monday with modest gains, partially recovering from robust declines accumulated last week amid expectations for the Federal Reserve’s interest rate announcement (Fed, the US central bank).
On Wednesday (21), the Fed is expected to raise interest rates by 75 basis points for the third time in a row to combat persistent US inflation.
In China, the PBoC left its main interest rates unchanged, as expected. So-called LPRs for 1-year and 5-year loans continued at 3.65% and 4.30%, respectively.
Oceania
In Oceania, the Australian stock market followed Wall Street and Asia, and the S&P/ASX 200 rose 1.29% in Sydney to 6,806.40 points, helped by financial and commodity-linked stocks.
Source: CNN Brasil
Joe Jameson, a technology journalist with over 2 years of experience, writes for top online news websites. Specializing in the field of technology, Joe provides insights into the latest advancements in the industry. Currently, he contributes to covering the world stock market.
