Bourses across Asia rallied on Tuesday following positive economic reports from Japan and China along with a proposal announced by the Russian government on Monday that aims to prevent U.S. forces from striking government targets in Syria.
Stocks on Tokyo’s Nikkei 225 climbed by 1.5 percent on Tuesday, while Hong Kong’s Hang Seng index increased by 0.6 percent and indexes in Indonesia, India and the Philippines were up by at least 2 percent, according to a report by AP.
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Analysts chalked up the day’s success to a pledge made by the Russian government to push Syrian President Bashar Assad to surrender his stockpile of chemical weapons in order to prevent a possible U.S. military strike. Positive reports also surfaced from China indicating that industrial output is on the rise, as the country appears to be gradually recovering from an economic slowdown.