Markets in Asia were up with Nikkei and Kospi by 0.4% and 0.2% respectively ahead of Yellen’s testimony

Asian markets

Majority of the market in Asia finished on the positive zone on Tuesday’s session, regardless of poor finish on the stateside last Monday.

Markets are widely forecasted to anticipate the verdict of central banks on future rate hikes in the United States, along with Fed chair Janet Yellen scheduled to testify ahead of the Congress this July 12.

On indices, Japanese benchmark Nikkei 225 index advanced more than 0.43 percent and the South Korean Kospi index advanced by 0.27 percent. The Australian ASX 200, however, didn’t follow the trend as it inched down by 0.05 percent.

Chinese markets were mostly down. The Shenzhen Composite fell as much as 0.23 percent and the Shanghai Composite slipped by 0.18 percent. Hang Seng index in Hong Kong added 1.12 percent, however mainland markets edged down.

Looking on other stocks, companies that are listed in Taiwan which are part of Tesla’s supply chain finished the day mixed following a 0.9 percent rise in shares amidst the trading session in U.S. QST added 0.48 percent and tech company Bizlink rose as much as 1.49 percent, but Hota Industrial was 1.46 percent lower.

In reaction to the news from Reuters suggesting that Dutch prosecutors were currently looking into a potential emission software misuse, automobile manufacturer Suzuki lost more than 2.05 percent in its shares. Also in the nation, Japan Post Holdings added 1.49 percent in shares after a Nikkei report that the finance ministry in Japan is not planning to stick to its plan on selling shares of the company.


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