Asian Equities Expected Higher

Asian shares are set for a positive trading session on Tuesday after a relatively inspiring handover from Wall Street overnight.  Australia’s benchmark S&P ASX 200 index was little moved in early trade, while the Australian dollar traded at $0.7922 to the dollar – near Monday’s six-year low.

Weakness in iron ore prices, which fell to their lowest in over five years on Monday, weighed on mining shares; Fortescue Metal slumped 8.2 percent, while BHP BIlliton and Rio Tinto opened down nearly 3 percent each.

Japanese shares are poised for a rebound, after a victory by anti-austerity party Syriza in Greece dampened trading sentiment in the previous session. Stock futures in Osaka and Chicago traded at 17,670 and 17,725, above the Nikkei 225’s previous close of 17,468.


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