Asian stock markets gain on Tuesday

Stock markets recovered from the impact of weak economic data in Europe and China on Monday that sparked concerns about slowing global growth.

Jan 15, 2019 02:01 IST India Infoline News Service

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Asian stock markets rose on Tuesday, with Japanese stocks being up and the Nikkei 225 index rising 0.57%. Chinese indexes are opening firmly into the upside, with Hong Kong's Hang Seng index climbing 0.91%, while Shanghai's CSI 300 clips higher by 0.30%, and Australia's ASX 200 is also up 0.45% for the day.

The stock markets recovered from the impact of weak economic data in Europe and China on Monday that sparked concerns about slowing global growth. Treasuries were little changed and the dollar dipped. The yen dropped, while the pound rose before Tuesday’s key vote on Brexit.

Data on Monday showed China's exports unexpectedly fell the most in two years in December, while imports also contracted sharply, pointing to further weakness in the world's second-largest economy in 2019 and deteriorating global demand.

The S&P 500 fell for the third time this month, led by technology companies after China’s slumping exports fueled worries about the growing impact of the US-China trade war.

Meanwhile, West Texas Intermediate crude rose 1% to $50.98 a barrel. 

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