November 14, 2021
Economy

Asian shares track Wall Street higher, China rebounds

A man looks at stock market monitors in Taipei January 22, 2008. REUTERS/Nicky Loh

HONG KONG, Oct 19 (Reuters) – Asian shares advanced on Tuesday, supported by a tech-driven Wall Street rally, and a rebound in Chinese markets a day after weak data heightened investor concerns about the world’s second-largest economy.

The dollar was under pressure as weak U.S. factory data tempered expectations about any near-term interest rate increases.

MSCI’s broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) rose 0.76% on Tuesday. It is up about 5% since its 12-month low hit on Oct. 5, largely in line with a similar rally in world shares (.MIWD00000PUS) following a strong opening to the U.S. earnings season.

However, the Asian benchmark is still well off its level in late July, when a series of regulatory changes in China roiled markets. Japan’s Nikkei (.N225) gained 0.56%.

“Asian…

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