Australia and China stocks closed higher Tuesday for the first time in three days, while the New Zealand dollar weakened following an inflation reading, the first since the elections over the weekend.
New Zealand's inflation rate hit a two-year low, coming in at 5.6% in the third quarter and down from 6% in the previous quarter.China is set to report third-quarter gross domestic product on Wednesday along with other economic data points. Economists expect third-quarter GDP growth of 4.4%, according to a Reuters poll.rebounded and gained 1.2%, closing at 32,040.29 and leading gains in Asia. The Topix meanwhile advanced 0.82% to end at 2,292.08.
The drop was mainly due to lower exports to Taiwan, Indonesia and Malaysia, but NODX to China, Hong Kong and the United States rose.'s entire offshore debt could fall into default if the Chinese property developer fails to make a $15 million coupon payment on Tuesday, when its 30-day grace period ends.in early September after it managed to pay $22.5 million in bond coupon payments. Its creditors voted to extend repayments on six onshore bonds by three years.
"This is a great time for people to get their portfolios more in balance because we see positive returns across cash, bands and equities. When we look out towards the middle of next year, we can see the S&P 500 probably about 4500 and we can see the 10-year at about 3.5%," Haefele told CNBC's"Haefele added that so-called bond vigilantes aren't overly concerned with the prospect of a U.S. default, which underpins his thesis for a dip in the benchmark 10-year Treasury.