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Asian shares rebounded from slight early losses on Tuesday after senior economic officials said Beijing will cut taxes and keep monetary policy flexible to help weather China’s slowdown.
Japan’s Nikkei 225 index, reopening after a market holiday, added 0.9 per cent to 20,544.64. The Kospi in South Korea jumped 1.5 per cent to 2,095.58.
Hong Kong’s Hang Seng bounced back 1.9 per cent to 26,793.29. It closed 1.4 per cent lower on Monday. The Shanghai Composite index was up 1.0 per cent at 2,560.17.
Australia’s S&P ASX 200 rose 0.5 per cent to 5,801.40. Shares rose in Taiwan, Singapore and Indonesia but fell in the Philippines, reports AP.
The broad S&P 500 index shed 0.5 per cent to 2,582.61. The Dow Jones Industrial Average lost 0.4 per cent to 23,909.84 and the Nasdaq composite was 0.9 per cent lower at 6,905.92.
The Russell 2000 index of smaller-company stocks slipped 1.0 per cent to 1,432.81.
Benchmark US crude oil added 62 cents to $51.13 per barrel in electronic trading on the New York Mercantile Exchange. The contract lost $1.08 to settle at $50.51 per barrel on Monday.
Brent crude, the international standard, gained 71 cents to $59.70. It gave up $1.49 to $58.99 a barrel in London.
The dollar strengthened to 108.51 yen from 108.16 yen late Monday. The euro rose to $1.1485 from $1.1473.