By Tuba Ongun
ANKARA (AA) - Major Asian stock markets closed Tuesday with gains except for the Singapore benchmark index as markets were buoyed by China's unexpected move to cut a key short-term policy rate for the first time in 10 months to boost liquidity in the financial system.
The seven-day reverse repurchase rate was lowered by 10 basis points from 2% to 1.9%, the People’s Bank of China said in a statement on Tuesday.
The Asia Dow, which includes blue-chip companies in the region, surged 1.52% to 3,603 points as of 1130GMT.
Tokyo's Nikkei 225 soared 1.80% to close at 33,018 points.
The Hang Seng, the benchmark for blue-chip stocks trading on the Hong Kong exchange, increased for the fifth session in a row, up 0.60% to reach 19,521 points.
China's Shanghai Stock Exchange ticked up 0.15% to 3,233 points.
India's Sensex index gained 0.67% to close at 63,143, nearing its highest level since December 2022.
The Singapore index, on the other hand, was down by 0.21% to end the day at 3,189 points.