Asian stocks shook off earlier losses on Tuesday, helped by assurances that Beijing would support flagging growth in the world’s second-largest economy, which helped investors shift their focus away from risks around interest rates and Russia.
The Chinese yuan also perked up significantly as central bank guidance sent a clear warning to traders that authorities were becoming less tolerant of the currency’s recent weakness.
The shift in mood helped MSCI’s gauge of Asia Pacific stocks outside Japan widen gains to 0.66%, with Hang Seng Index and China’s benchmark CSI300 Index up 1.56% and 0.54%, respectively, by midday.
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.
