Asian Shares Rise Tuesday, however Investors are Cautious before US Data

Asian shares rose on Tuesday as recent selling drew bargain hunters, but investors were cautious ahead of more U.S. economic reports and a Federal Reserve policy decision later in the week that may offer clues to the Fed’s stimulus plans.

The MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 0.7 percent to snap a four-day losing streak, led by a 1.1 percent jump in Australian shares to a fresh 21-month high on gains in financials shares.

South Korean shares, which slumped to an 8-week low on Monday, rebounded 0.8 percent.

Japan’s Nikkei stock average reversed earlier declines and rose 0.6 percent, buoyed by optimism over earnings of major banks. It briefly touched a fresh 32-month high above 11,000 on Monday.


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