Asian Market Report, 12th of March 2019

Asian markets ended higher on Tuesday’s session taking cues from global stocks which rose after last-minute tweaks to Britain's deal to leave the European Union that eased some fears of a No-Deal Brexit. In economic news, the People’s Bank of China (PBOC) has pledged to gradually unify two interest rate "tracks" its market-based rates that have been developed in recent years and its benchmark bank deposit and lending rates. The mainland Chinese markets were in the green at the close of today’s session. The Shanghai Composite rose by 1.10 percent or 33.314 points to settle at 3,060.3073 supported by Telecommunications Services, Technology, and Consumer Cyclicals sectors. Hong Kong’s main index Hang Seng closed Tuesday’s trading session higher, supported by all sectors to close the session at 28,920.87. South Korean benchmark KOSPI added 0.89 percent to end the session at 2,157.18 supported by significant gains in Technology, Consumer Cyclicals, and Utilities sectors. In automotive news, Hyundai Motor, one of the largest automaker companies, saw its stock surged by 3.72 percent to end at 125,500.

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