Equity markets across Asia ended Tuesday on a positive trajectory, buoyed by increasing optimism regarding forthcoming stimulus packages, as well as anticipation ahead of the People's Bank of China's rate decision scheduled for Wednesday. Notably, Australia's S&P/ASX200 achieved a historic peak, while markets across the board found encouragement in the global reduction of bond yields.
In China, the Shanghai Composite Index saw an uptick of 0.67%, closing at 3,346.01 after fluctuating between 3,346.76 and 3,284.13. Meanwhile, the Shenzhen Component Index surged by 1.9%, landing at 10,743.84.
Japan's Nikkei 225 climbed by 194 points, or 0.51%, to close at 38,414.43, within a trading range of 38,560.10 to 38,246.36. Among the top performers, Japan Steel Works led with an impressive 11.6% overnight gain, trailed by Fujikura with a 7.2% increase. Ebara Corp advanced by 5.2%, followed closely by Nidec Corp and Panasonic, both exceeding 4% gains.
Conversely, Bandai Namco Holdings, Konica Minolta, and Astellas Pharma saw declines of over 3%, while Recruit Holdings and Oriental Land Co both fell by just under 3%.
The Hang Seng Index on the Hong Kong Stock Exchange rose by 87 points, or 0.44%, concluding at 19,663.67. Trading was confined to a high of 19,758.57 and a low of 19,522.59.
South Korea's Kospi Index edged upward by 0.12%, adding 2.88 points to reach 2,471.95, with trading fluctuating between 2,479.39 and 2,465.15.
Australia's S&P/ASX200 concluded its session at a record 8,374.00, strengthened by a 74-point increase, or 0.89%, establishing a 100-day high with a trading spectrum from 8,300.20 to 8,446.40. Technology One's share price jumped over 10% following an 18% profit surge. In tandem, Sonic Healthcare, Block, and De Grey Mining all observed increases exceeding 6%, while ALS registered a 5.7% gain.
Elders, post-equity raising, dived by more than 10%. Both Neuren Pharmaceuticals and Pilbara Minerals saw a decline exceeding 5%, with Liontown Resources dropping 4.1%, and Pexa Group falling 3.8%.
In New Zealand, the NZX 50 gained 52 points, or 0.40%, closing at 12,816.32 in comparison to its previous close of 12,764.65, moving between 12,746.55 and 12,840.36. Pacific Edge led with a 4.2% increase, while both Scales Corporation and Ryman Healthcare rallied just below 3%. Meridian Energy and Investore Property increased by nearly 2%.
On the downside, Synlait Milk posted a 5% loss, KMD Brands retracted by 2.3%, and Spark New Zealand, Infratil, and Serko observed losses exceeding 1%.
In the U.S., Wall Street exhibited a mixed closure on Monday, amidst crucial impending earnings announcements. Fed's potential slower-than-anticipated rate reductions also deterred sentiment. The Nasdaq Composite increased by 0.60%, closing at 18,791.81, whereas the Dow Jones Industrial Average decreased by 0.13%, concluding at 43,389.60.
