Asia Stock
Stocks in the Asia were seen trading higher on Tuesday, with Japanese markets leading gains on the weaker yen after returning from a three-day weekend. The Japanese yen weakened after the Bank of Japan (BOJ) announced an unexpected increase in its monetary-easing program.
The Japanese Nikkei 225 index advanced 3.5% to 16,987.59 points during the early hours of trading, while Tokyo’s Topix index rose 3.2% to 1,376.60 points.
The yen continues to weaken after falling to a seven-year low on Monday, trading around 113.35 per dollar.
The weaker yen boosted gains for the nation’s exporters, with Sony rising 11%, Olympus up by 5%, Mazda Motors gained 6.5%, Nissan Motor added 3.6% and Daiwa Securities surged by more than 10%.
Hong Kong’s Hang Seng index slid 0.39% to 23,821.57 points at the time of writing, while China’s mainland Shanghai Composite eased 0.24% to 2,424.10 points.
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The Chinese carmaker, Great Wall Motor climbed by 7% after reporting a rise in sales by 12% in October. China Communications Construction rose 9.6% and China Railway Construction added by more than 4%.
The South Korean Kospi index fell at 1,952.56 points, while Australia’s benchmark S&P/ASX 200 index was seen flat at 5,506.00 points before the Reserve Bank of Australia (RBA) announces its cash rate. RBA are expected to maintain its cash rate at 2.5% for the fourteenth consecutive month.
Retail sales in Australia climbed 1.2% on a monthly basis in September, exceeding analysts’ forecasts.
Europe Stocks
The equities market in Europe opened slightly lower on Tuesday as traders awaits economic forecasts from the European Union (EU).
The European Euro Stoxx declined 0.08% to 3,079.88, while the UK FTSE 100 index in London edged 0.19% lower to 6,475.52 and the French CAC 40 slid 0.25% lower to 4,183.42. Germany’s benchmark DAX 30 index fell 0.16% to 9,237.01.
The European Commission will post its economic outlook, which is used to evaluate the economic performance of EU members.
The report will show the economic forecast for all members for the next two years.
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