Encouraging gains on Wall Street were propelling up stocks in Asia and Australia. Barring Hang Kong and Japan, all the major market benchmark indices in Asia and Australia, rose.
Beating market predictions, industrial production in Japan rose during January 2016. On the other side, retail sales eased 1.1 percent. The mixed situation in the world's third largest economy is signaling ongoing uncertainty about GDP growth rate.
The US economy encouragingly created more jobs for the past two years and now is set for a slowdown, as economists predict. The prevailing credit conditions the US market indicate tightening of economy. The US private sector added 205,000 jobs in January as against 267,000 in December.
U.S. stocks opened flat on Tuesday after the S&P 500 closed out its best month since February, ahead of reports on the manufacturing sector.
Investors seemed not receptive to the Chinese government's announcement to resume the initial public offerings by the first month of next year.
Despite positive Purchasing Managers Index data in both the manufacturing and services sectors, Markit's recent industry report also reflected a slowdown of hiring in the private equity sector.
Australian manufacturers underwent change in level of operations.
FishHawk Partners raised US$30 million and is to be invested heavily in manufacturing sector.