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Asia stocks edge up on easing Syria tensions; focus on earnings, China GDP

The near-term focal point was on China's gross domestic product data due at 0200 GMT

Reuters  |  TOKYO 

China offers a financial industry exam in English, first test on May 4

stocks edged higher on Tuesday, tracking Wall Street gains as the focus shifted to corporate earnings and looming economic data from amid signs Western-led strikes on weren't likely to escalate.

The dollar pulled back along with safe-haven U.S. Treasuries as investor risk appetite improved in the broader

The near-term focal point was on China's gross domestic product data due at 0200 GMT.

The world's second biggest economy was expected to have carried most of its strong momentum from last year into the first quarter of 2018, after growing 6.8 percent in the fourth quarter.

While Saturday's missile strikes were the biggest intervention by Western countries against Syria, investor risk appetite in the broader improved on speculation that the attacks would not lead to prolonged conflict.

"The had been bracing for a possible escalation in following Trump's earlier warnings. Military action, however, has been limited, bringing relief," said Kota Hirayama, senior emerging at in

"That said, the underlying picture has not changed. Conflict continues in and trade issues remain unresolved. Geopolitics will impact the markets again."

MSCI's broadest index of shares outside edged up 0.22 percent.

Japan's Nikkei climbed 0.2 percent. South Korea's gained 0.2 percent and Australian stocks added 0.45 percent.

The Dow gained 0.87 percent and the rose 0.8 percent on Monday, with the biggest boosts from technology and as investors were optimistic about the earnings season and appeared less worried about U.S.-led missile attacks in Syria.

companies are expected to report an 18.6 percent jump in first-quarter profit, on average, the biggest rise in seven years, according to data.

The dollar index against a basket of six major currencies was little changed at 89.407 after losing 0.4 percent overnight.

The euro was a shade higher at $1.2383 . The dollar was steady at 107.100 yen .

The pound touched a near three-month high of $1.4346 and in reach of a post-Brexit referendum high with focus on data that could cement expectations of a May interest rate increase by the

The stepped into the currency market again on Tuesday, buying HK$5.77 billion ($735 million) in Hong Kong dollars as the local currency repeatedly hit the lower end of its allowable trading band.

The 10-year note yield was at 2.832 percent after rising to 2.865 on Monday, its highest since March 22.

U.S. rose 0.3 percent to $66.43 a barrel after tumbling nearly 1.8 percent overnight on waning concerns about tensions in the

First Published: Tue, April 17 2018. 06:11 IST