Asian stocks advance after Wall Street steadies
Equities in Asia are stronger as anxiety over Donald Trump’s setback on healthcare reform gives way to tentative hope for the his planned stimulus policies
Singapore — Asian stocks advanced on Tuesday after Wall Street steadied and the dollar bounced from a four-month low, as anxiety over Donald Trump’s setback on healthcare reform gave way to tentative hope for the US president’s planned stimulus policies. MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.6%. Japan’s Nikkei jumped 1%, its biggest one-day gain in more than two weeks, while Australian stocks were up 1.1%. South Korean stocks climbed 0.3% after data showed the domestic economy grew at a slightly faster pace than initially thought in the fourth quarter of 2016, supported by strong construction activity. Hong Kong’s main Hang Seng added 0.6%. China’s market was one of the region’s underperformers, with the CSI 300 index about 0.2% lower and the Shanghai Composite down 0.4%. Overnight, the S&P 500 and the Dow Jones Industrial Average closed lower but had narrowed their losses from earlier in the session, when both hit near-six-week lows. The Nasdaq ended hi...
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