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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%.
The US NFP will be published on August 7 at 15:30 MT time.
The market sentiment is indeed risk-on today. Stocks, riskier currencies and gold are rising amid the waning US dollar.
Follow the BOE monetary policy and rate statements on August 6 at 14:00 MT time…