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Asian shares were trading higher on Tuesday but the dollar plunged to a record low against the Swiss franc after a speech by the US President, Mr Barack Obama, gave no sign a deadlock in Washington over raising the debt limit was easing.
Investors have shown few signs of panic even as Republicans and Democrats have failed to bridge their differences before the August 2 deadline the US Treasury has set for when it may fail to pay out on Treasuries.
Japan’s Nikkei 225 gained 71.02 points or 0.71 per cent to 10,121.03. Hong Kong’s Hang Seng rose 216.14 points or 0.97 per cent to 22,509.43. Singapore’s Straits Times was up 7.58 points or 0.24 per cent at 3,179.13. South Korea’s Kospi was up 7.52 points or 0.35 per cent at 2,158.00.
Australia’s S&P/Asx 200 jumped 47 points or 1.04 per cent to 4,577.40. China’s Shanghai Composite was up 1.58 points or 0.06 per cent at 2,690.33. Taiwan’s Taiex jumped 82.81 points or 0.95 per cent to 8,766.32.
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