Asian Market Update : Epic Research Malaysia

Shares in Tokyo gained despite a downward revision in wages data with Hong Kong and Shanghai also up and Sydney down. The Nikkei 225 rose 0.66%, while the Shanghai Composite jumped 2.72% and the Hang Seng index gained 0.40%. Offsetting the trend, the S&P/ASX 200 fell 0.24%.

The strong Australian dollar and federal spending plans are the key variables in assessing the case for a further rate cut from a record low 2%, the Reserve Bank of Australia said in the minutes of its May meeting that were released on Tuesday. Since the May meeting, Australia released a federal budget that leaned more toward spending control than stimulus.

In Japan, March total wages were revised down to unchanged from a preliminary gain of 0.1%. Overnight, U.S. stocks were higher after the close on Monday, as gains in the Healthcare, Financials and Telecoms sectors led shares higher.

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