HONG KONG, March 3 — Asian shares rose today after Wall Street reversed losses on signals of a measured policy tightening approach from the US Federal Reserve as well as on prospects of a solid economic recovery in China.
Markets are also watching out for China’s annual meeting of parliament, which kicks off on Sunday, to set economic targets and elect new top economic officials. Emerging signs of a steady rebound in China’s economy following the relaxation of stringent curbs in December have also helped to revive appetite for riskier assets.
Australian shares were up 0.36 per cent, helped by gains in miners and financials, while Japan’s Nikkei stock index rose 1.42 per cent. The Dow Jones Industrial Average rose around 1 per cent, while the S&P 500 and Nasdaq Composite both gained around 0.75 per cent, even as Tesla Inc fell nearly 6 per cent after the company failed to impress investors with few details on its plan to unveil an affordable electric vehicle.
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