Epic Research Update : Asian Markets

Elsewhere in Asia, market indices were mostly higher, taking the lead from a rally on Wall Street overnight and as a rebound in gold and crude oil prices overnight helped to drive risk appetite.

Brent was up USD 1.78 at USD 50.39 a barrel and US crude ended up USD 1.09 at USD 44.96 a barrel, up from a session low of USD 43.35 during Asian trading, its lowest in four and a half months.

China’s Shanghai Composite index is back in the black, up 0.5 percent at 1000 SIN/HK, following a brief slip into negative territory on the back of surprise news that the central bank has sharply weakened the yuan.

Japan’s Nikkei 225 index touched 20,931 points – its highest level since June 26 – in early trade.

South Korea’s Kospi index notched up at the start of trade.

Singapore shares also bucked the upbeat sentiment across Asia on Tuesday, after the country’s final gross domestic product (GDP) contracted 4.0 percent on-quarter in the April-June period.

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Posted in: Indian Market Tips