Asian Markets Resume Rally As Pound Holds Ground Ahead Of Vote

Asian markets on Tuesday rebounded from the previous day's sharp losses but investors remain wary of any further sign of weakness in the global economy while the pound extended gains ahead of a crunch Brexit vote later in the day

Hong Kong, (UrduPoint / Pakistan Point News - 15th Jan, 2019 ) :Asian markets on Tuesday rebounded from the previous day's sharp losses but investors remain wary of any further sign of weakness in the global economy while the pound extended gains ahead of a crunch Brexit vote later in the day.

Tuesday's gains were helped by a bump in financials after Wall Street giant Citibank said it provided a positive outlook for its trading environment ahead of the corporate earnings season, while energy firms were supported by rising oil prices.

Hong Kong climbed 1.8 percent in the afternoon, Shanghai ended up 1.4 percent, with investors also cheered by news that officials are planning a range of tax cuts to support the stuttering economy.

Tokyo gained one percent while Seoul, Singapore, Taipei and Mumbai were each more than one percent higher. Sydney, Wellington and Jakarta were also well up.