Asian stocks, having fallen heavily on the back of heightened concerns surrounding Greece on Monday, have done a complete U-turn this morning.
In Japan the Nikkei 225, having slumped 2.17% yesterday, has added 1.37% while the ASX 200, buoyed by buying in healthcare, industrial and financial stocks, has risen 1.62% following two days of steep losses. Surprisingly, the materials sector has added 1.23% despite another steep fall in the iron ore price overnight.
Elsewhere in the region the moves are far more subdued. The Kospi in South Korea, weighed down by tech-giant Samsung, has fallen 0.33% while the TAIEX in Taiwan has opened 0.2% higher.
Mainland Chinese markets, after another tumultuous session on Monday, and Hong Kong’s Hang Seng, fresh from falling 3% yesterday, will commence trading shortly.