Markets in Asia were still up as tension in the Korean Peninsula eases with Nikkei adding 1.08%

asian markets mixed

Asian indices were still on the upbeat territory on Tuesday’s opening bell after a strong finish from the stateside. This is driven by the easing geopolitical tensions surrounding North Korea and fading concerns over the possible damages of Hurricane Irma.

On the same day, Hurricane Irma was downgraded to a tropical storm from a Category 5 hurricane. Stock markets were somehow relieved after the hurricane seemed to not cause any major damages than what everyone expected. It made a landfall in the coast of Florida last weekend.

Following the diminishing fears on Tropical Storm Irma, major stocks on Wall Street all finished the session higher with the 30 stock index Dow Jones industrial average gaining as much as 259.58 points and settled at 22,057.37.

Looking on Asian indices, Japanese benchmark Nikkei 225 index edged up more than 1.08 percent after the yen was surpassed by a much firmer U.S. dollar overnight. South Korean benchmark Kospi index rose more than 0.34 percent in early trade. The ASX 200 index in Australia advanced about 0.44 percent driven by a 1.17 percent rise from its heavily-weighted financial sub-index.

Global markets are continuously keeping an eye on the tension surrounding the Korean Peninsula following the decision of the United Nations Security Council to increase sanctions against the hermit state on the previous day.

In other news, the Japanese government announced last Monday that would sell the stocks of Japan Post Holdings worth $12 billion, but the reaction of the market was unenthusiastic because the possible growth of the company doesn’t look good. Still, its shares rose by 1.59 percent.


Leave a Reply

Your email address will not be published.