The Asian and Pacific Rim equity markets were all trading higher by lunchtime on Tuesday. Asian sentiment is somewhat better even as they monitory mounting tensions between the United States and Iran.
In Japan, the benchmark Nikkei 225 was trading up 1.66 percent after shedding over 1.9 percent on Monday. In Tokyo, the Topix index was up 1.36 percent as most sub-sectors in the green. Tech stocks rallied as shares of Nintendo, Softbank and Sony were all trading higher.
Elsewhere in the Asian and Pacific Rim, the Australian S&P ASX 200 was up nearly one percent on the day.
In South Korea, the Kospi composite index added 0.88 percent as the cosmetic and technology sectors led the way.
In Hong Kong, the headline Hang Seng index was trading up 0.65 percent by noon.
In the mainland, in China, the headlines equity markets were also trading in the green. The Shanghai composite added almost half a percent. The smaller Shenzhen composite added 0.18 percent and the Shenzhen component saw shares rising 0.68 percent.
Asian Traders Monitor the Middle East and wait on Eurozone Inflation and US ISM Services PMI
Traders are still worried about geopolitical tensions in the Middle East. Tensions have been rising since the United States killed a top Iranian military commander.
On January 3, a drone strike killed Iranian General Qassem Soleimani in Iraq. In response, Iran has threatened the United Sates in their regional allies.
There are some events on the economic calendar today out of Europe and the United States for traders to monitor.
Eurozone core and non-core consumer price indices (CPI) are on the docket today. Italy is also releasing their consumer price index. Also scheduled, out of the Eurozone, are monthly retail sales.
On the U.S. economic calendar, the Institute for Supply Management (ISM) non-manufacturing purchasing managers’ index (PMI) is on the economic docket as well as trade data and monthly factory orders.