Asian equities traded mostly higher, boosted by renewed expectations of Chinese stimulus measures. Hong Kong's Hang Seng Index was a standout performer, while Singapore's Straits Times Index also rose 0.5%.
Southeast Asian and North Asian equities traded higher on Tuesday, primarily driven by optimism surrounding further economic support measures from China. Hong Kong's Hang Seng Index (HSI) surged 2.1%, marking its largest single-day gain in nearly two months. Singapore's Straits Times Index (STI) gained 0.5% to 3250 points, supported mainly by strong banking counters. The positive regional sentiment provided a buffer for the KLCI, even though the Malaysian index dipped due to domestic profit-taking. Traders are rotating funds back into undervalued Asian assets, betting on potential rate cuts by the US Federal Reserve around mid-year, which typically benefits emerging market currencies and equities.
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