Shares in Asian Markets Climbs On Weaker Yen

Shares in Asian markets started off the day in green on Tuesday, boosted by the weaken yen and the rise of Japanese equities. The Japanese yen weakened, second day in a row against the US dollar ahead of the US retail sales data.

With the Asian shares boosted by the unofficial news of the possible tax cuts, stocks in China advanced, and extending gains and driven by the good news from the country’s real estate market.

During the Australian session, most of the shares were seen in red due to the negative macroeconomic data reports.

Nikkei 225 Advances

The Japanese benchmark Nikkei 225 advanced 2.6% higher to 13,867.00 at the time of writing, while the broader Topix index jumped 2.00% higher to 1,157.15 at the same time.

South Korean Kospi index rose for the fourth day running at 1.50% to 1,913.03, while the Australian S&P/ASX 200 edged up 1.02% higher to 5,160.70.

Equities in China were also seen in green, following last week’s winning ending on Wednesday as the Hong Kong’s Hang Seng edged up 1.12% to 22,520.03 at the time of writing, while China’s Shanghai Composite remained flat with 0.03% at 2,101.94.

The core machinery orders in the Chinese factories for the month of June beat the predicted estimates, but slightly dropped by 2.7 against the expected 7.1% estimate, according to reports from the Cabinet Office. The figure reported is believed to be the leading indicator of capital for China.

According to the minutes released from the Bank of Japan (BoJ) July’s meeting, the Bank is expecting the country to show an improved and moderate growth this year.

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