Most of the Asian equity indices have rebounded after Monday’s sharp sell-off and open higher in Tuesday’s morning trade after US job creation accelerated in June raising hopes of growth recovery in world’s biggest economy. However, gains remained capped as investors were nervous over Beijing’s new drive to reform credit to restructure the economy. Meanwhile, China’s annual consumer inflation accelerated more than expected in June, as food cost soared, limiting any near-term room for the People’s Bank of China to loosen policy to underpin the slowing economy.
Shanghai Composite rose 5.00 points or 0.26% to 1,963.27, Hang Seng increased 63.53 points or 0.31% to 20,645.72, KLSE Composite jumped 3.65 points or 0.21% to 1,766.52, Nikkei 225 surged 188.25 points or 1.33% to 14,297.59, Straits Times gained 18.37 points or 0.58% to 3,173.84, KOSPI Composite added 10.27 points or 0.57% to 1,827.12 and Taiwan Weighted was up by 71.20 points or 0.90% to 7,957.54.
On the flip side, Jakarta Composite was down by 20.03 points or 0.45% to 4,413.60.
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