Asian Equities Higher after Positive U.S. Data

Asian stocks were mostly higher on Tuesday following a mixed morning session but gains were capped as traders continued to monitor developments in Iraq and Ukraine.

Sentiment rose following a raft of positive U.S. data overnight. Existing home sales rose more than expected in May while a preliminary read on June factory activity rose to its highest since 2010.

In Iraq, Sunni tribesman took control of a border crossing between Iraq and Jordan on Monday but it is unclear whether the Islamic State in Iraq and the Levant was behind the move. Speaking after a meeting with Iraqi leader Nuri al-Maliki, U.S. Secretary of State John Kerry pledged “intense and sustained” American support for Iraq to contain the insurgency.

CNBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.