Asian indices recover on back of Wall St rally

Bangkok: Asian shares advanced on Tuesday after US stocks rallied as investors unwind some of last week’s moves driven by worries about war in the Middle East. Oil prices slipped and US futures also edged lower.

Markets are awaiting China’s latest economic growth figures, due Wednesday. Economists are forecasting that annual growth dropped to under 5 per cent in July-September from 6.3 per cent in the previous quarter.

A weaker Chinese economy is a drag on regional and global trade and manufacturing, slowing the global recovery from the pandemic. Tokyo’s Nikkei 225 was up 1 per cent at 31,988.40 and the Hang Seng in Hong Kong added 0.7 per cent to 17,763.41.