Stocks in Asia rose marginally on Tuesday as many markets reopened after the lon...
HONG KONG/TOKYO - Stocks in Asia rose marginally on Tuesday as many markets reopened after the long Easter break, while oil jumped to its highest this year as the United States tightened sanctions on Iran.
Chinese stocks extended losses on concerns that Beijing will slow the pace of further policy easing after unexpectedly strong first-quarter economic data last week. Shares in Shanghai slid 0.4 percent after policymakers vowed to fine-tune monetary policy, ensuring it is “neither too tight, nor too loose”.
“We’ve had a fantastic run in Chinese equities year-to-date, some profit taking is completely normal. I don’t think China is changing its policy that quickly,” he said. Washington said it would eliminate in May all waivers allowing eight economies to buy Iranian oil without facing U.S. sanctions. Despite recent gains in oil prices, many investors still expect inflation to be well-contained in major economies including the United States, allowing the Federal Reserve to keep dovish stance.
In the currency market, the dollar index, which measures the greenback against six major currencies, eased 0.2 percent overnight and last traded steady at 97.303. The index hit a two-week high of 97.485 on Thursday, before the start of Good Friday and the Easter weekend.
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