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.

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