Asian Stocks
Asian stocks were seen trading higher on Tuesday, boosted by the positive US housing figures, which jumped to the highest in seven months as tensions between Russia and Ukraine were seen easing.
Japan
The Japanese Nikkei 225 index rose 0.81% to 15,447.07 points, while Tokyo’s Topix index edged 0.56% higher to 1,278.43 points.
The nation’s yen weakened against the US dollar, trading around 102.6 yen, during the early trading hours on Tuesday.
Hino Motors shares added 2.9%, while metal companies, Nisshin Steel Holdings and Toho Zinc gained around 4.5% each. Sharp went up by 1.9%, following reports that the multinational electronic manufacturers will produce low-cost smart phones for the US markets. Meanwhile, Mitsubishi Heavy Industries climbed by more than 2% on news that the company won the contract to build subways in Brazil.
China
Hong Kong’s Hang Seng index rose 0.1% to 24,980.17 points, while the Chinese mainland Shanghai Composite was flat 2,239.29 points.
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Galaxy entertainment added 1% to HK$60.45 after the casino operator posted figures for its second-quarter earnings, which came in higher than forecasted.
Meanwhile, the pharmaceutical equipment makers, china Medical System Holding saw gains with shares climbing 7% to HK$10.76 after the company reported that its net income for the first half of the year rise rose by 31% from the previous year.
Australia
In Sydney, the benchmark S&P/ASX 200 index edged 0.62% to 5,621.80 points at the time of writing, boosting stocks in the financial and mining sector.
Mining giants Rio Tinto saw major gains, with shares jumping 1.3%, while BHP Billiton added 0.95% and Fortescue Metals edged 1.2% higher.
Westpac bank saw the most gains amongst the banks, with shares surging 0.9%, while ANZ added 0.3%, Commonwealth Bank of Australia advanced 0.7% and National Australia Bank gained 0.2%.
Amcor advanced almost 5% after the packaging company reported a net income of A$564.8 million, surpassing analysts’ forecast of A$560 million.
European stocks
Stocks in the European region were seen opening with gains on Tuesday as investors focus on July’s inflation data from the UK, due later in the day.
The European Euro Stoxx 50 jumped 0.27%, opening at 3,081.89, while UK’s benchmark FTSE 100 edged 0.27% to 6,759.31. In Germany, the benchmark DAX index gained 0.33% to 9,276.24 at the time of writing and the French CAC 40 rose 0.16% to 4,237.58 at the same time.
Tensions Eased
Tensions between Russia and Ukraine are slightly easing after Moscow said that a dispute over its humanitarian aid convoy intended for southern Ukraine. Ukraine Foreign Minister and Russian counterpart Sergei Lavrov met in Berlin to hold talks for more than five hours as they aim to ease tensions.
Meanwhile, Palestinian and Israel militants have agreed to extend their five day truce on Monday for another 24 hours, while in Iraq, the Kurdish troops have retaken the Mosul Dam, the nation’s largest dam from the rebels.
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