Asian Stocks Go Higher on Tuesday

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Asian Stocks Go Higher on Tuesday
Asian Stocks Go Higher on Tuesday

The Tuesday trading session in Asia started a bit slower, but in spite of this, most Asian stocks traded higher. The Nikkei 225 for Japan climbed 0.20%, even when the USD/JPY went lower. The Hang Seng in Hong Kong moved up 0.16%, while the Shanghai composite plunged 0.66%. This was just after data indicated that the industrial production in China had gone up by 9.3% in April. The expected growth was a 9.5% increase, seeing the 8.9%, which it managed to show last month.

Hong Kong’s Hang Seng rose 0.16%, but the Shanghai Composite slipped 0.66%. This is just a day after data showed that industrial production in China has risen by 9.3% in April, below expectations that were at 9.5%, following an 8.9% rise the previous month.

Meanwhile in Australia, the S&P/ASX 200 climbed 0.26%. Later today Wayne Swan, the Australian treasurer will convey remarks about why the country could not return to a budget spare.

In New Zealand, the stocks traded lower and a 0.12% drop was seen in the NZSE here. Contradictory to stats, this showed a 0.5% growth for retail sales in the country.

In South Korea, the Kospi appreciated by 0.99% and managed to become the best performer in the region, compelling traders about this idle market of Asia for the year 2013.

The Straits Times Index in Singapore went up by 0.39%, on the other hand the S&P 500 futures gained 0.12% for the day; the benchmark U.S. Index however saw a slight change.

The iShares FTSE in China, which is the largest ETF Chinese fund in the U.S., plummeted by 1.8% and traded at $37.73 in New York, yesterday. This was the sharpest turn down for this stock in past three weeks.
The South Korea stocks were seen trading the highest in Asia. The stocks for LG Electronics Inc. were suspended for the largest gain since one month.

The SENSEX in India showed a positive movement, which is just before the report about the wholesale price growth, is on charts describing the slowest rate in three years.