Hong Kong shares end slightly higher, China-US meeting in focus

The benchmark Kospi average rose 17.38 points or 0.88 percent to 1,982.06.

In an interview with CNBC on Monday, St. Louis Fed President James Bullard said the central bank could still raise rates next month but noted that many things can change from one meeting to the next.

Gauges of technology and industrial companies rose more than 3 percent for the steepest gains among 10 groups.

China National Nuclear Power Co Ltd jumped 5.9 percent, after British finance minister George Osborne said on Monday Britain welcomed the potential for majority Chinese investment in future nuclear projects. Big miner Rio Tinto fell 1.2 percent and Fortescue Metals Group tumbled 3 percent, while BHP Billiton edged up marginally.

Oil prices fell in early trade after rising over 4% overnight on declining stockpiles and drilling activity. It is important to state that the OECD had cut the growth forecasts of the Chinese economy and spoke about how a slowdown in the economy could hurt the growth in the Asian emerging market region.

In Australia, the benchmark S&P/ASX 200 index was up 0.6% to 5,096.20 points. India’s Sensex was tumbling 1.8 percent in volatile trading, with heavyweight banking and metal stocks coming under selling pressure. A preliminary Chinese manufacturing report on Wednesday will likely show a contraction.

Asian markets headed higher on Tuesday, recovering from the previous session’s losses after commodities and shares on Wall Street rebounded.