Asian shares open strong in light trade ahead of key Chinese economic data
Hong Kong/Tokyo — Asian shares extended gains on Tuesday, pulled higher by financials and a rebound in oil prices, while the Australian dollar hit a two-week high as investors trimmed expectations for a central bank rate cut this year.Despite the bounce in risk-sensitive assets in Asia, volumes were light with markets hugging well-worn trading ranges.Chinese data due this week includes September quarter gross domestic product on Wednesday after last week’s trade figures raised concerns about the health of the world’s second-biggest economy.MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.8%, extending earlier gains.Australia’s benchmark index was up 0.4%. Japanese stocks edged higher on a softer yen. European shares were expected to open higher, tracking the Asian moves."Investors are slightly risk averse while their attention has been on the dollar-yen levels," said Kazuhiro Takahashi, an equity strategist at Daiwa Securities. "They are waiting for a turning poin...
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