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Asian stocks track Wall Street higher

FXStreet (Mumbai) - Asian indices rebounded on Tuesday, giving back yesterday’s heavy losses in an otherwise quiet session, with a data-light macro calendar for the region and Japanese market closed on a three-day break.

Shanghai composite extends the rally

Risk-on sentiment dominates Asia with the Asian equities trading firmer, taking the positive lead from strong Wall Street as well as European stocks close.

The benchmark Australian S&P/ASX 200 index staged a solid comeback after an over 2.5% drop witnessed on Monday, oil stocks and Australia’s biggest lenders partly undoing previous losses. While markets also cheer upbeat domestic fundamentals, driving the index 0.57% higher to 5,095 points.

The Chinese markets opened higher, with the Shanghai Composite now extending +0.88% to 3,184 points. While Hong Kong's benchmark Hang Seng index gains 0.77% at 21,927. While Korea's benchmark Kospi index is up 0.32% to 1,970 points in Seoul.

Japanese markets were closed, with three-consecutive bank holidays taking place from Monday through Wednesday.

Australia House prices beat expectations in Q2

Residential property prices in Australia were up 4.7% on quarter in Q2 2015, the Australian Bureau of Statistics said on Tuesday.
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EUR/USD quiet in Asia, gyrates around 1.12

The EUR/USD pair is trading quietly around 1.12 handle in Asia today, after having suffered almost 1% loss in the previous session to close below its 200-DMA.
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