SYDNEY: Asian stocks were mostly higher on Tuesday as investors cheered the prospect that the world’s largest economy will avert a major debt default, improving sentiment across most asset classes.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.4 percent early Tuesday after U.S. stocks were closed on Monday for the Memorial Day holiday. The index is down 1.3 percent so far this month.
Australian shares were up 0.03 percent while the Nikkei stock index slipped 0.28 percent, cooling a bit after the Japanese benchmark hit a 33-year high on optimism over the U.S. debt deal and a weaker yen, which helps the country’s exporters.
