Asian markets head higher on Tuesday
04 November 2015,Nirapad News: Asian markets headed higher on Tuesday, recovering the previous session’s losses after taking a positive lead from Wall Street.
US stocks closed higher despite mixed economic data – manufacturing activity slowed, but construction spending hit a seven-and-a-half year high.
But gains were capped as investors awaited Friday’s jobs report for clues on the timing of an interest rate hike.
Australian shares were higher ahead of the central bank’s decision on rates.
The benchmark S&P/ASX 200 was up 1.2% to 5,227.20 – leading the region’s gains in early trade.
Most economists expect the Reserve Bank of Australia (RBA) to keep interest rates at a record low of 2%, but there are calls that a cut could be on the cards.
Japanese markets are closed for a national holiday.
Chinese shares opened higher with the Shanghai Composite up 0.5% to 3,340.99, while Hong Kong’s Hang Seng index was 1% to 22,585.15 points.
South Korea’s Kospi index was up 0.7% to 2,050.38 as government data showed that inflation hit an 11-month high in October.
The consumer price index rose 0.9% from a year ago, up from a 0.6% rise in September on an ongoing recovery in consumption, reports the BBC.