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Asian shares mostly rose Tuesday, boosted by a rally on Wall Street, as investors waited for U.S. consumer price data due out later in the day.
“Sentiments are largely tracking the positive handover from Wall Street overnight, although much is still up in the air,” Yeap Jun Rong, a market analyst at IG, said in a commentary.
In a mixed sign of Japan’s shaky recovery, government data showed the world’s third largest economy grew at an annual pace of 0.6% in October-December, as restrictions related to the coronavirus pandemic eased, both abroad and in Japan. Tourism recovered, as did local travel, and exports grew, the Cabinet Office reported.
Japan’s benchmark Nikkei 225 gained 0.6% to finish at 27,602.77. Australia’s S &P/ASX 200 edged up 0.2% to 7,430.90. South Korea’s Kospi added 0.5% to 2,465.64. Hong Kong’s Hang Seng lost 0.2% to 21,133.59, while the Shanghai Composite rose 0.2% to 3,291.97.
Shares rose on Wall Street as traders made their final moves ahead of a report that could show whether inflation is cooling in the right way or setting the market up for worse pain. The S &P 500 climbed 1.1% in anticipation of Tuesday’s report on inflation at the consumer level across the country.
The Dow Jones Industrial Average gained 1.
