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Asia Shares Higher as Investors Overlook U.S. Hedge Fund Default

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Asian share markets strengthened Tuesday as investors remained focused on the global vaccination program and shook off worries about a hedge fund default that hit international banking stocks overnight.

European stocks look set to open higher with Euro Stoxx futures up 0.35 and Britains FTSE futures 0.33 higher.

Sentiment among Asian investors was mixed early but turned positive later in the session with most of the regions major markets trading higher.

The MSCIs broadest index of AsiaPacific shares outside Japan was 0.6 higher, while mainland Chinas CSI300 index rose 1.

Hong Kongs Hang Seng Index found 1.2 to reach 28,668, driven up by a rebound in the citys tech stock index which has been under pressure from concerns about the Chinese governments move to increase regulation of those companies.

Japans Nikkei was flat, dragged down by Nomura share price weakness, while Australia sounded a weaker tone when the SPASX200 closed down 0.9 at its lowest point for a week.

Credit Suisses Asia Pacific senior investment strategist Jack Siu said the prospect of Asian travel bubbles being established had sparked enthusiasm among some investors in the region.

Tourism dependent Asian economies will benefit, he said.

Hong Kongs commerce secretary Edward Yau flagged Monday the government had restarted talks with Singapore to reestablish a potential travel bubble between the cities.

Investor sentiment was still closely tied to the pace of the global vaccine rollout, said…

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