Stocks in Asia moved higher early Tuesday, following through on Monday’s rally after U.S. stocks posted gains to start the week.

Japanese stocks rose with the Nikkei index
NIK,
+0.53%

  up about 0.5% in early trading. Auto and financial stocks took the lead, thanks partly to the yen’s weakening and gains in Treasury yields overnight.

Honda Motor
7267,
+2.63%

  is up 2.3%, Dai-ichi Life Holdings
8750,
+2.93%

  is 1.9% higher, while SoftBank Group
9984,
+2.22%

  added 2.0%. The U.S. dollar/Japanese yen is at 105.70, up from 105.57 as of Monday’s Tokyo stock market close. Investors are focusing on policy developments from the U.S. and Japan.

Hong Kong’s Hang Seng Index
HSI,
+0.75%

  was ahead 0.8%, in line with gains among broader Asian equities. Tech stocks are among the best performers, with Techtronic Industries
669,
+1.06%

  gaining 1.1%, AAC Technologies
2018,
+5.40%

  up 1.4% and Sunny Optical Technology
2382,
+3.29%

  adding 1.3%. Pharmaceutical stocks are also higher, with Sino Biopharmaceutical
1177,
+3.00%

  gaining 1.3% and CSPC Pharmaceutical
1093,
+2.53%

  up 0.7%. Among other stocks, Swire Pacific
19,
+2.27%

  rose 1.7% and Shenzhou International Group
2313,
+1.11%

  is 1.5% higher.

The Singapore FTSE Straits Times Index
STI,
+0.54%

  is up 0.5% in early trade, tracking U.S. stocks which rose overnight on positive signs regarding President Trump’s health. Singapore’s economy is also likely to continue its gradual recovery, Commerzbank says. REITs are higher. Mapletree Commercial Trust
M44U,
+0.48%

  gained 1.0%, Ascendas REIT
CY6U,

  added 0.6% and CapitaLand Commercial Trust
C31,

  rose 1.2%. Among consumer stocks, Thai Beverage
Y92,

  was up 0.8%, Wilmar
F34,
+1.33%

 limbed 0.9% and Dairy Farm International
D01,

  rose 0.4%.

Malaysia’s stock benchmark Kuala Lumpur Composite Index
FBMKLCI,
+0.33%

  is up 0.2%. Gainers include Dialog Group,
7277,
-0.26%

  which added 1.8% while casinos-to-plantations conglomerate Genting
2291,
+0.51%

  was 1.6% higher. Malayan Banking
1155,
+1.26%

  is up 0.7% while CIMB Group
1023,
+0.65%

  gained 0.3%. Among losers on the index is plantation company Sime Darby Plantation
5285,

 , which is down 1.4%.

In Asian airline ratings, Qantas Airways
QAN,
+0.92%

  is preferred by Goldman Sachs over Air New Zealand
AIR,
+3.65%

  for its exposure to the Australia-New Zealand aviation market. Goldman upgraded Qantas to buy from neutral while keeping Air New Zealand at sell.

The recovery in Australia’s domestic travel is still in its infancy and Qantas has greater flexibility in its business structure to profitably ride that recovery, Goldman Sachs says. An earnings recovery for Air New Zealand will be limited until international tourism resumes given its pre-Covid international capacity was about six times that of domestic, GS says.

South Korea’s headline inflation accelerated at a faster-than-expected pace to hit a six-month high in September. The benchmark consumer-price index gained 1.0% from a year earlier after rising 0.7% in August, said the statistical office Tuesday. The latest reading — the highest since March’s 1.0% pace — beat the median forecast of five economists polled by the Wall Street Journal for a 0.7% increase. The Bank of Korea expects the country’s inflation to average 0.4% this year–well below its 2% annual target.

South Korea’s stock benchmark Kospi
180721,
+0.50%

  is up 0.6% in early trade. Technology, retail and banking stocks lead gains including index heavyweight and tech giant Samsung Electronics
005930,
+0.51%

 , LG Electronics
066570,
+1.95%

 , food company CJ CheilJedang
097950,
+3.38%

 , retailer E-mart
139480,
+1.39%

 , and Hana Financial Group
086790,
-0.34%

 .

The story was compiled from Dow Jones Newswires and Associated Press reports.

Let’s block ads! (Why?)