Asian stocks rise after Wall Street rally

Asian stocks rose as Wall Street snapped a three-day losing streak Asia-Pacific stocks rose on Tuesday, tracking moves on Wall Street as U.S. stocks snapped a three-day losing streak. Australia’s S&P/ASX 200 rose 1.04 percent and Japan’s Nikkei 225 rose 0.53 percent, while the Topix saw a smaller gain of 0.23 percent. South Korea’s Kospi led the region’s gains, rising 1.23 percent, while the Kosdaq rose 1.52 percent. Hong Kong’s Hang Seng index extended gains from Monday to rise 0.75 percent, while mainland Chinese markets also rose. The Shanghai Composite Index rose 0.21 percent and the Shenzhen Component Index rose marginally. Investors are bracing for a raft of inflation data later in the week, including U.S. inflation figures for June that could provide clues about the Federal Reserve’s path. There is also the expectation that Fed officials’ comments suggested that interest rates will need to be raised further to curb inflation, which is still too high, “but the end of the current cycle of monetary policy tightening is in sight.” Overnight in the U.S., the Dow Jones Industrial Average led the gains, rising 0.62 percent, while the S&P 500 rose 0.24 percent and the Nasdaq Composite rose 0.18 percent.