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Asian shares gain on upbeat overnight sentiment from Wall St

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Investing.com -

Investing.com - Asian markets moved higher on Tuesday, with Japan leading on a softer yen.

The Nikkei 225 rose 0.8%. Elsewhere in Asia, South Korea's KOSPI gained 0.8% and Australia's S&P/ASX 200 was up less than 0.1% after July board meeting minutes from the Reserve Bank of Australia highlighted the strong currency's drag on the economy.

Ahead are a number of data releases. The most significant for Asia will be China's second-quarter growth data, due on Wednesday.

In China, Hong Kong's Hang Seng Index was up 0.5% and the Shanghai Composite rose by less than 0.1%.

Later, the Bank of Japan will wrap up its two-day policy meeting, with the focus on Governor Haruhiko Kuroda's news conference.

Overnight, better-than-expected earnings at Citigroup coupled with an uptick in mergers and acquisitions sent U.S. stock prices rising.

The Dow 30 rose 0.66%, the S&P 500 index rose 0.48%, while the NASDAQ Composite index rose 0.56%.

More earnings are due this week, and Citigroup's report boosted expectations for more pleasant surprises.

On Tuesday, stocks should move on Federal Reserve Chair Janet Yellen's testimony before Congress.

Elsewhere, the U.S. is to release data on retail sales, the government measure of consumer spending, which accounts for the majority of overall economic activity.

The U.S. is also to release data on import prices, business inventories and manufacturing activity in New York state.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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