Asia-Pacific markets traded higher on Tuesday, buoyed by a tech-driven rebound on Wall Street and a recovery in cryptocurrency prices that helped restore risk appetite.
By 11:35 am AEDT (12:35 am GMT), Australia’s S&P/ASX 200 was up 0.3%, Japan’s Nikkei 225 rose 0.8%, and South Korea’s Kospi 200 gained 0.2%.
Fresh gross domestic product (GDP) data from the Australian Bureau of Statistics showed the economy expanded 0.4% in the third quarter, missing expectations for 0.7%.
Year-on-year growth accelerated to 2.1% from 1.8% but still undershot forecasts of 2.2%.
South Korea’s economy performed more strongly, with quarterly GDP rising 1.3%, up from 0.7% and beating expectations of 1.2%.
On an annual basis, growth accelerated to 1.8% from 0.6%.
Later in the session, markets will turn their attention to China’s RatingDog Services PMI.
In the United States, major indexes finished higher on Tuesday, with the Dow rising 0.4%, the S&P 500 adding 0.3%, and the Nasdaq Composite edging 0.6% higher.
Commodity markets softened, with Brent crude down 1.1% to US$62.45 a barrel, while spot gold slipped 0.6% to US$4,205.67 an ounce.
In China, the Shanghai Composite declined 0.4% to 3,897.7, and the CSI 300 lost 0.5% to 4,554.3.
Hong Kong’s Hang Seng Index ticked up 0.2% to 26,095.1. India’s BSE Sensex fell 0.6% to 85,138.3.
European markets were mixed on Tuesday: the FTSE 100 finished flat at 9,701.8, Germany’s DAX gained 0.5% to 23,710.9, and France’s CAC 40 slipped 0.3% to 8,074.6.
