Most stock indices of the Asia-Pacific region concluded on Tuesday in positive territory, with the exception of the Japanese market, which declined due to the strengthening of the yen.
Investors do not pay attention to the growth prospects of the US budget deficit, and instead began to “hunt” for the shares, which fell heavily on the results of the sell-off in global markets last week, according to MarketWatch.
Summary index of region MSCI Asia Pacific has grown on 0,6%, and the rise lasts for a second consecutive day, after falling 6.5 percent over the past week.
After a decline last week there was “a great opportunity to buy a number of good quality stock,” says portfolio Manager Oceanwide Asset Management Ltd. Jim Fong. According to him, Oceanwide has increased positions in the shares of high-tech companies, including Internet giant Tencent and manufacturer of components for smartphones Sunny Optical .
Stock prices of these companies rose Tuesday, respectively, 3.1% and 5.7%.
Global correction of markets in early February, created a lot of opportunities for bargains, although volatility is likely to persist, says managing Director, investor relations at Pinpoint Asset Management Jennifer Wong. “When the market is such a correction, we think that it is good. It allows us to search for stocks whose value, in our opinion, unreasonably low,” she said.
The value of the South Korean Kospi index at the end of trading rose by 0.41%.
Capitalization semiconductor manufacturers Samsung Electronics Co. and SK Hynix jumped 4% and 4.3%, respectively.
The Chinese Shanghai Composite index head day increased by 0.98%, Hong Kong’s Hang Seng declined 1.29%.
Indicator Australian S&P/ASX 200 was up 0.6%.
At the same time, the Japanese Nikkei 225 and the Topix over the past session decreases by 0.65% and 0.88%.
In particular, the depreciated paper of the largest Japanese banks, including Mitsubishi UFJ Financial Group Inc. – 1.5%, Sumitomo Mitsui Financial Group Inc. – 1.1%, Mizuho Financial Group Inc. – 0.9%.
Furthermore, decreased stock prices of car manufacturers: Honda Motor – 1.7%, Toyota Motor – 2.5%.
The market value of audio equipment manufacturer Pioneer Corp. fell by 10%.