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Asian stocks higher after Chinese data points; Nikkei up 0.51%

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Shutterstock photo - Most Asian bourses are trading higher at this hour as the region's equities are seen taking their cues from the U.S.

In Asian trading Tuesday, Japan's Nikkei 225 rose 0.51% as traders begin to buy into the notion that the country's bold stimulus measures aimed at boosting inflation and weakening in the yen will help increase profits for Japanese exporters.

The Bank of Japan conducted its first government bond purchasing operation earlier Monday when it bought JPY1.2 trillion in Japanese government debt maturing in five years or more.

The move forms part of the Bank of Japan's plan to double its asset purchase program over the next two years and extend the maturities of the bonds it purchases as part of a strategy to hit a 2% inflation


Hong Kong's Hang Seng added 0.89 percent and the Shanghai Composite climbed 0.86% after China's National Bureau of Statistics showed the country's PPI fell 1.9% in March compared with the year-earlier period. That follows a 1.6% drop in February. Analysts expected a 2% decline. On a month-over-month basis, China's PPI was unchanged.

China's CPI fell to -0.9% compared with the -0.6% analysts expected. On a year-over-year basis, China's CPI rose 2.1% compared with the estimate calling for a 2.4% increase

The Chinese data points helped Australia's S&P/ASX 200 rise 1%. Mining giants BHP Billiton and Rio Tinto were seen leading Aussie stocks higher.

New Zealand's NZSE 50 inched high by 0.10% following some hawkish central bank commentary on Monday. In a speech given Monday, Reserve Bank deputy governor Grant Spencer said if home prices and credit expansion start to have the appearance of fueling a possible consumption bubble and inflationary pressures become evident, a response from the central bank could be in the cards.

Low interest rates have helped New Zealand property values soar 8% in the past year. New Zealand's benchmark interest rate is 2.5%, low by the country's standards, but still one of the highest in the developed world.

RBNZ has previously indicated it will leave rates on hold this year with in the anticipation of some adjustment in the first quarter of 2014 when most traders are expecting a rate hike.

South Korea's Kospi fell 0.33% while Singapore's Straits Times Index added 0.53%. S&P 500 futures are higher by 0.19%. - offers an extensive set of professional tools for the Forex, Commodities, Futures and the Stock Market including real-time data streaming, a comprehensive economic calendar, as well as financial news and technical & fundamental analysis by in-house experts.

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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.

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