Tue, 05 Jul 2022

SYDNEY, NSW, Australia - Stocks in Asia rose on Tuesday with broad-based gains the order of the day. Only Chinese mainland markets faltered.

"The recent drop in equity markets and inflection in investor attitudes make a bottoming thesis more difficult to make," Nationwide's chief of investment research, Mark Hackett told NBC Tuesday.

"Investors are acting emotionally, but the fundamentals are beginning to follow the weakness in the technicals."

In Japan, the Nikkei 225 surged 475.09 points or 1.84 percent to 26,246.31.

The Australian All Ordinaries gained 91.30 points or 1.38 percent to 6,700.80.

In New Zealand, the S&P/NZX 50 climbed 113.39 points or 1.07 percent to 10,701.59.

The Kospi Composite in South Korea advanced 17.90 points or 0.75 percent to2,408.93.

In Hong Kong, the Hang Seng rallied 380.35 points or 1.80 percent to 21,544.26.

China's Shanghai Composite, going against the trend, dipped 8.71 points or 0.26 percent to 3,306.72.

On foreign exchange markets, the euro rebounded Tuesday. In early European trading, the EU unit was fetching 1.0556. The British pound edged up to 1.2297. The Swiss franc firmed to 0.9642.

The Canadian dollar rose to 1.2912. The Australian dollar was stronger at 0.6978. The New Zealand dollar increased to 0.6357.

Going against the trend, the Japanese yen slid to 135.22.

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