Asian shares are mostly trading on optimism on Tuesday amid relief in the Chinese property sector and also pricing in easing of tensions between U.S. – China relations after key meeting between the premier of the two countries.
MSCI broad index of Asia-Pacific shares outside Japan rose 0.24% while Japan’s Nikkei gained 0.24%.
Traders are also anticipating to China’s better than expected economic data released on Monday.
Chinese blue chips (CSI 300) rose 0.53% and Hong Kong benchmark (HSI) rose 1.01% helped by property stocks.
Hong Kong index of mainland Chinese developers inched up as much as 3%.
Kaisa Prosperity (2168.HK) resumed trade today and tumbled 14% on opening, according to Reuters.
Treasuries in the U.S. inched up by five basis points to three weeks high on Monday. According to Reuters, companies are rushing to sell treasuries before liquidity dries during the holiday season and also ahead of U.S. government sale of new 20-year bonds on this week’s Wednesday.
Higher yield weighed down technology stocks in the U.S., however benefited the dollar to stay strong among its peers.
European Central Bank’s President Christine Lagarde on Monday shunned off bets for tougher monetary policy noting it would hinder the Euro zone’s recovery.
Britain will publish its September labor market report later on Tuesday which could signal a direction for rates hike.