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Asian indices had a good start on Tuesday; ASX boosted by its financial sector

Stocks in Asia were already in the green zone on Tuesday’s opening session after a strong finish in Wall Street on the back of better-than-expected economic figures.

The Japanese benchmark Nikkei 225 index rose as high as 1.14 percent. In South Korea, the Kospi index advanced by 0.34 percent and the Topix index added 0.96 percent.

Markets on the mainland followed the trend as the Shenzhen composite and  jumped by 0.65 percent. The Shanghai composite added 0.6 percent to its value. The Hang Seng index in Hong Kong edged up by 0.89 percent.

Meanwhile, the Australian benchmark S&P/ASX 200 index advanced by 0.27 percent due to the 0.14 percent boost from its financial sector. Four of its biggest banks settled on the positive note.

The National Australia Bank and Commonwealth Bank traded above the flat line by 0.08 percent and 0.02 percent respectively. Westpac was 0.22 percent up and Australia and New Zealand Bank (ANZ) added 0.15 percent in shares.

Euro goes down after Merkel failed to form a coalition government

The euro edged down on Tuesday on account of the political uncertainties surrounding the German government. 

The common currency settled down at $1.1731 as investors saw an uncertain future for Europe's economy after German Chancellor Angela Merkel’s failed to form a coalition government. Merkel said yesterday that she would favor fresh election rather than establishing a minority government.

* The details mentioned above have been partially adopted from third party sources, including websites, and are displayed “AS-IS” Readers should take into account that all the data that appear in this review can change based on the dynamic of global markets. The information provided by the review ought not to be considered as advice or financial guidance nor can it relate to any investor’s personal requirements or investment goals. In addition, the data should not be conceived as any kind of recommendation to trade and / or carry out a transaction and / or deposit funds.