Asian stocks were mostly higher on Tuesday as investors cheered the prospect that the world’s largest economy will avert a major debt default, improving sentiment across most asset classes.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.4% early Tuesday, after U.S. stocks were closed on Monday for the Memorial Day holiday. The index is down 1.3% so far this month.
Australian shares were up 0.03% while the Nikkei stock index slipped 0.28%, cooling a bit after the Japanese benchmark hit a 33-year high on optimism over the U.S debt deal and a weaker yen, which helps the country’s exporters.
Fidelity Asian Values Plc (LON:FAS) provides shareholders with a differentiated equity exposure to Asian Markets. Asia is the world’s fastest-growing economic region and the trust looks to capitalise on this by finding good businesses, run by good people and buying them at a good price.