Asian stocks
advanced on Tuesday after Wall Street stabilized and the dollar was
steady, as anxiety over Donald Trump's setback on healthcare reform gave
way to tentative hopes for the U.S. president's planned stimulus
policies.
European markets were also set for a stronger start, with financial spreadbetters expecting Britain's FTSE 100 .FTSE and France's CAC 40 .FCHI both to open 0.3 percent higher and Germany's DAX .GDAXI to start the day up 0.4 percent.
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS added 0.5 percent.
apan's Nikkei .N225 closed up 1.1 percent, its biggest one-day gain in more than two weeks, while Australian stocks ended the day 1.3 percent higher, their strongest performance since Nov. 23.
South Korean stocks .KS11 climbed 0.4 percent after data showed the domestic economy grew at a slightly faster pace than initially thought in the fourth quarter of 2016, supported by strong construction activity.
China's market was one of the region's underperformers amid concerns about tightening liquidity conditions after the central bank refrained from injecting short-terms funds into the banking system for the third session in a row.
The CSI 300 .CSI300 index was about 0.2 percent lower and the Shanghai Composite .SSEC was down 0.4 percent
Overnight, the S&P 500 .SPX and the Dow Jones Industrial Average .DJI closed lower but narrowed their losses from earlier in the session, when both hit near-six-week lows. The Nasdaq .IXIC ended higher.
Stock markets, which went on a tear after Trump's November election win, got an added lift from the Federal Reserve's less-hawkish-than-expected stance in mid-March. But doubts about Trump's ability to keep his promises of fiscal stimulus, including tax reform, halted the rally.
Trump's failure late last week to garner enough support for a plan to repeal the Affordable Care Act, former President Barack Obama's signature health care bill, even with a Congress controlled by the leader's Republican party, further dented sentiment.
While that blow stoked concerns about the president's ability to enact stimulus policies, these began to recede overnight as investors looked with renewed, albeit tentative, optimism to the U.S. government's next policy steps.
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS added 0.5 percent.
apan's Nikkei .N225 closed up 1.1 percent, its biggest one-day gain in more than two weeks, while Australian stocks ended the day 1.3 percent higher, their strongest performance since Nov. 23.
South Korean stocks .KS11 climbed 0.4 percent after data showed the domestic economy grew at a slightly faster pace than initially thought in the fourth quarter of 2016, supported by strong construction activity.
China's market was one of the region's underperformers amid concerns about tightening liquidity conditions after the central bank refrained from injecting short-terms funds into the banking system for the third session in a row.
The CSI 300 .CSI300 index was about 0.2 percent lower and the Shanghai Composite .SSEC was down 0.4 percent
Overnight, the S&P 500 .SPX and the Dow Jones Industrial Average .DJI closed lower but narrowed their losses from earlier in the session, when both hit near-six-week lows. The Nasdaq .IXIC ended higher.
Stock markets, which went on a tear after Trump's November election win, got an added lift from the Federal Reserve's less-hawkish-than-expected stance in mid-March. But doubts about Trump's ability to keep his promises of fiscal stimulus, including tax reform, halted the rally.
Trump's failure late last week to garner enough support for a plan to repeal the Affordable Care Act, former President Barack Obama's signature health care bill, even with a Congress controlled by the leader's Republican party, further dented sentiment.
While that blow stoked concerns about the president's ability to enact stimulus policies, these began to recede overnight as investors looked with renewed, albeit tentative, optimism to the U.S. government's next policy steps.
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