Donald Trump
US President Donald Trump’s failure on Obamacare had earlier led investors to doubt his ability to push through his other policy initiatives MANDEL NGAN/AFP/Getty Images

While most Asian stock market indices were trading higher on Tuesday (28 March), the Shanghai Composite was down 0.29% at 3,257.38 as of 4.39am GMT as investors shrugged off US President Donald Trump's inability to repeal Obamacare, which had led the markets lower in the last few sessions.

The failure had cast doubts among investors over Trump's ability to push through his other policy initiatives such as tax reforms and infrastructure spending.

"Markets appear reluctant to take the Trump disappointment too much further at this stage. With US economic growth showing signs of improvement and the (Federal Reserve) clearly embarked on a monetary tightening cycle, the significant correction that has already occurred in bonds and the US dollar may already reflect an adequate wind-back of the market's Trump exuberance," Ric Spooner, chief market analyst at CMC Markets, was cited by Reuters as commenting.

Indices in the region were trading as follows at 4.57am GMT:

Hong KongHang Seng Index24,317.93Up0.51%
JapanNikkei 22519,181.53Up1.03%
South KoreaKOSPI2,158.96Up0.15%
AustraliaS&P/ASX 2005,816.00Up1.21%

On 27 March, the FTSE 100 closed 0.59% lower at 7,293.50 while the S&P 500 index closed 0.10% lower at 2,341.59.

Among commodities, oil prices recovered and were trading in the green. This follows Qatar oil minister Mohammed Saleh Al-Sada calling for Opec production cuts to be extended beyond June. As of 12.49am EDT, WTI crude oil was up 0.52% at $47.98 (£38.17) a barrel, while Brent crude was trading 0.45% higher at $50.98 a barrel.