Asian shares rose on Tuesday, shrugging off worries about an increase in regional coronavirus infections and a subdued session on Wall Street, while inflation jitters helped push gold prices to threemonth highs.
MSCIs broadest index of AsiaPacific shares outside Japan rose 1.06 after a mixed session on Monday, still not recouping losses of the last few weeks amid new clusters of COVID19 cases that are prompting some economies to impose fresh antivirus measures.
Japans Nikkei rose as much as 2.2 on solid earnings reports and bargain hunting, while Hong Kongs stocks were up 1.24. Chinas bluechip CSI300 index was 0.20 lower.
Spot gold traded around 1,869.06 an ounce, near a threeandahalf month high, after the Empire State Manufacturing Survey, produced by the New York Fed, showed the highest prices paid since the series began in 2001. GOL
Markets appear primed to seize on any upside surprises to growth and inflation data as implying a more rapid liftoff from zero rates than the Fed policy makers own projections indicate, BlackRock investment strategists said in a note.
However, Dallas Federal Reserve President Robert Kaplan on Monday reiterated his view that he does not expect interest rates to rise until next year, helping to reassure markets that the Fed will not tighten early, traders said.
Markets are waiting on Wednesdays release of the minutes from the Federal Reserves policy meeting last month, which could shed more light on the policymakers outlook on…