Tokyo, Japan (BBN)-Markets in Asia were largely in positive territory on Tuesday following a strong finish on Wall Street.
Investors continue to see last week’s US jobs figures as a sign the US Federal Reserve will not raise its rates until December at the earliest, reports BBC.
In Japan, the benchmark Nikkei 225 index was up 1.58 per cent at 18,290.79 as it looks to its fifth consecutive day of rallies.
Australia’s S&P/ASX 200 benchmark was up 0.92 per cent in morning trade at 5,197.80.
Investors shrugged off news that Australia’s trade deficit rose unexpectedly in August to 3.09bn Australian dollars ($2.18bn; £1.44bn) against forecasts for a deficit of A$2.55bn.
The Reserve Bank of Australia (RBA) meets later on Tuesday, but market analyst Evan Lucas said the bank was unlikely to make any significant statements this week or announce a rate cut until December.
“We think the [bank’s] statement will be even duller than the rates release [today] as the RBA will not want to give anything away,” he said in a note.
“However, there is no escaping the fact that the market is building a case for a December cut, with the interbank market now pricing in a 60% chance that Australia will get a 25 basis point cut Christmas bonus on 1 December.”
In Hong Kong, the benchmark Hang Seng index opened in positive territory and was up 1.06 per cent at 22,088.71 in early trade.
Stock markets on China’s mainland remain closed for the Golden Week holiday.
In South Korea the Kopsi index was up 0.47 per cent at 1,987.42 points.