Asian stock market indices were trading mixed on Tuesday (21 February), with the Shanghai Composite up 0.26% at 3,248.29 as of 6.01am GMT in the wake of fresh funds inflow into Chinese markets and South Korea reporting an increase in exports.
Chinese indices gained nearly 7% month-on-month as domestic institutional investors pumped in more money, and there was renewed optimism in the world's second biggest economy. Analysts said the optimism was due to various factors including America's relaxed attitude towards China.
"We upgraded our China equities call last month because of the strong economic data and comments coming out from the new US administration pointing to a softer stance towards China," Francis Cheung, head of China-Hong Kong strategy at CLSA, was quoted as saying by Reuters.
South Korea reported a 26.2% on-year jump in exports in dollar terms while imports saw an increase of 26% leaving a net trade surplus of $2.19bn (£1.76bn).
Overnight, Wall Street was closed on account of a public holiday.
"With US markets closed for Presidents' Day, it was perhaps apt that President Trump gave markets some reprieve from the combined (but confused) effects of 'Trumpflation' and 'Donald Doubt'," analysts at Mizuho Bank were quoted as saying by CNBC.
Indices in the region were trading as follows at 6:15am GMT:
|Hong Kong||Hang Seng Index||24,075.84||Down||0.29%|
On 20 February, the FTSE 100 remained unchanged at 7,299.86, while the S&P 500 index was closed.
Among commodities, oil prices were trading mixed. As of 12.32am EST, WTI crude oil was up 0.47% at $53.65 (£43.10) a barrel, while Brent crude was trading 0.04% lower at $56.16 a barrel.