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Asian shares track Wall Street higher | |
(about 5 hours later) | |
Most Asian markets headed higher on Tuesday, recovering the previous session's losses after taking a positive lead from Wall Street. | |
US stocks closed up despite mixed economic data - manufacturing activity slowed but construction spending hit a seven-and-a-half year high. | |
But gains were capped as investors awaited Friday's jobs report for clues on the timing of an interest rate hike. | But gains were capped as investors awaited Friday's jobs report for clues on the timing of an interest rate hike. |
Australia's S&P/ASX 200 index closed up 1.4% at 5,239.20 points. | |
Shares ended higher despite the central bank's decision not to cut interest rates from a record low of 2%. | |
However, the Reserve Bank of Australia (RBA) did hint that there was room for more easing in the near future given subdued inflation. | |
Japanese markets were closed for a national holiday. | |
Chinese markets were mixed with the Shanghai Composite down 0.1% at 3,320.86, while Hong Kong's Hang Seng index rose 1.2% to 22,642.96. | |
South Korea's Kospi index ended up 0.7% at 2,048.40 after government data showed that inflation hit an 11-month high in October. | |
October's consumer price index was 0.9% higher from a year ago, compared with September's reading of 0.6%. |