Asian markets trade higher; Nikkei 225 index gains nearly 2%

Chinese mainland shares also rose but trimmed some of their earlier gains with the Shanghai Composite was up 0.39%.

Aug 11, 2020 11:08 IST India Infoline News Service

Asian stock markets rose on Tuesday following gains on Wall Street overnight. The Nikkei 225 index advanced 1.88% and the Topix index was up 2% as the Japanese market returned to trading following a public holiday on Monday.

South Korea’s Kospi index gained 1.4% while Australia’s benchmark ASX 200 advanced 0.86% and the Hang Seng index in Hong Kong was up 2.5%.

Chinese mainland shares also rose but trimmed some of their earlier gains with the Shanghai Composite was up 0.39%.

Meanwhile, US stocks ended mixed overnight as President Donald Trump signed executive orders aimed at extending coronavirus relief to Americans and Beijing announced it would sanction 11 US citizens in response to similar measures from Washington.

The Dow Jones Industrial Average rallied 1.3% and the S&P 500 edged up 0.3% to reach their best closing levels in over five months, while the tech-heavy Nasdaq Composite index shed 0.4%.

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