Stocks in the Asian region were seen trading in the green territory on Tuesday, despite the downbeat retail sales report from Japan.
The Japanese benchmark Nikkei 225 Index edged 0.73% higher to 20,129.05 points, while Tokyo’s Topix Index advanced 0.67% to 1,629.87 points. The Japanese yen weakened against the greenback on Tuesday, trading at 119.08 yen per dollar.
Retail sales in Japan declined for a third consecutive month in March, falling 9.7% on an annual basis in March, according to the Ministry of Economy, Trade and Industry (METI).
The Chinese benchmark Shanghai Composite was up 0.27% to 4,538.66 points, while Hong Kong’s Hang Seng Index was a little changed at 28,445.35 points.
The South Korean Kospi Index gained 0.05% to 2,158.64 points, while Australia’s benchmark S&P/ASX 200 Index added 5,956.60 points.
The European market opened flat on Tuesday as traders await the UK’s GDP report due later in the day.
The European Euro Stoxx 50 declined 0.12% to 3,766.48, while the UK’s mainland FTSE 100 Index fell 0.44% to open at 7,072.54 at the time of writing. At the same time, the French CAC 40 Index lost 0.39% to 5,248.11 and the German DAX added 0.02% to 12,040.58.
Greece and the EU finance ministers failed to reach an agreement on Friday, raising worries that the nation may not meet deadlines. Greece has to pay 200 million euros to the International Monetary Fund on May 6. However, the nation’s Prime Minister Alexis Tsipras said he is certain Greece and the international lenders would finalize an agreement by May 9.
While the market awaits the UK’s gross domestic product report, analysts are expecting to see a rise of 0.5% on a monthly basis and an expansion of 2.6% in the March quarter.
Wall Street closed with losses on Monday and expected to drop lower on Tuesday as the spotlight is on the Federal Reserve meeting which will begin later in the day and end on Wednesday.