Asian stocks mostly ascend, as traders look to US Fed testimony

Asian stocks mostly ascend, as traders look to US Fed testimony

On Tuesday, Asian stocks were mixed, with gainers supplanting losers.

Asian shares have been provided with a lift by better-than-expected American nonfarm payrolls data the previous week as well as subdued inflation data out of China, which generally met expectations.

The Nikkei 225 managed to leap 0.46% because the afternoon trading session kicked off on Tuesday, while South Korea's benchmark Kospi index grew 0.25%. Meanwhile, in Hong Kong, the Hang Seng headed north 1.09%, trading at 25,779.9, as it kept recovering from losses the previous week.

On Tuesday, the Shanghai Composite slumped 0.18% in morning trade, reaching 3,206.9. As for the S&P/ASX 200, this benchmark dipped 0.14%, giving up some revenues from earlier in the day. Additionally, Thailand's SET Index decreased 0.14%.

On Monday, China informed that in June the Consumer Price Index grew 1.5% year-on-year, meeting expectations. Simultaneously, the Producer Price Index went up 5.5%.



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S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.

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