After gains on Wall Street on Monday, Asian share markets were mostly higher early on Tuesday. The safe passage of the US healthcare legislation in the House of Representatives late on Sunday also lifted the market sentiment.
Singapore’s Straits Times Index edged up 0.7 percent or 20.02 points to 2,909.20 within minutes of trading; Australia’s S&P/ASX 200 was 0.7 percent higher; South Korea’s Kospi Composite was up 0.6 percent and New Zealand’s NZX-50 rose 0.2 percent.
However, Japan’s Nikkei 225 was 0.2 percent down, as the market resumed trading after a holiday on Monday. Exporters were considering the Japanese market, as an increase in the Yen against the US Dollar and the Euro weakened the demand on Monday. Investors worry about a stronger Yen, as it eats into the profits earned by exporters when they are repatriated.
On the other hand, the Yen was losing some ground against the Dollar and the Euro in early trade. On an improvement in risk appetite, the Euro rebounded from three-week lows, but was still under pressure ahead of a meeting of European Union leaders on Thursday and Friday to discuss aid to Greece. The dollar remained steady above 90 Yen in early Asia trade.