Asian Markets Mostly Higher

(RTTNews) - Asian stock markets are mostly higher on Wednesday despite the lackluster cues overnight from Wall Street. The markets continue to be optimism about higher fiscal stimulus and the global economic recovery as U.S. bond yields moved lower for the third straight session and lower crude oil prices. Asian stocks broadly closed lower on Tuesday.

The Australian stock market is rising on Wednesday, recouping some of its recent losses, with the benchmark S&P/ASX 200 rising again above the 6,800 level, driven by a huge rally in the materials stocks. Latest GDP figures also show that Australia's economy is recovering as it expanded for the second straight quarter.

The benchmark S&P/ASX 200 Index is gaining 54.00 points or 0.80 percent to 6,816.30, after hitting a high of 6,817.80 earlier. The broader All Ordinaries Index is higher by 55.70 points or 0.79 percent to 7,065.30. Australian markets erased early gains to end lower on Tuesday.

In the tech space, Appen and Afterpay are falling more than 2 percent, while WiseTech Global is gaining 0.6 percent.

Gold miners are higher after gold prices snapped a five-day losing streak. Evolution Mining and Newcrest Mining are gaining over 2 percent, while Northern Star Resources is adding almost 4 percent.

Among the major miners, BHP Group is rising nearly 3 percent, Fortescue Metals is higher by more 3 percent and Rio Tinto is advancing more than 1 percent.
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