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Steady Start Called For Asian Markets

More of the same is the forecast for the Asian stock markets on Tuesday in what could be a quiet session that is devoid of leads from Wall Street, which was closed in observance of President's Day.

After posting mostly solid gains on Monday, the Asian markets get a positive lead from Europe and are expected to continue to trend to the upside, although profit taking may pare the upside later in the session.

The European markets were broadly higher on Monday with Germany's DAX rising 1.46 percent, while the CAC in France jumped 0.96 percent, Sweden climbed 0.99 percent, London's FTSE collected 0.68 percent and the Swiss market was barely in the green, up 0.08 percent.

The Asian stock markets were mostly higher on Monday, fueled by the 1.39 percent jump in Australia. Japan's Nikkei was up 1.08 percent, while New Zealand climbed 0.81 percent, Taiwan collected 0.77 percent, Singapore's Straits Times gathered 0.69 percent, Thailand was up 0.53 percent, China's Shanghai Composite was up 0.27 percent, Malaysia rose 0.22 percent, Indonesia added 0.09 percent and South Korea's KOSPI ticked higher by 0.07 percent. Only Hong Kong's Hang Seng Index finished lower, down 0.31 percent. India was closed for Mahasivarathri Day.

by RTTNews Staff Writer

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