Asian Stock Market News - Asian Stocks Rose

Asian stocks break five-day losing streak but outlook wary

Asian stocks rose on Tuesday helped by buoyant U.S. markets and recent data that indicated the global economy may have turned a corner, though wary central banks signalled a recovery may be anything but durable.

European stocks are set to open higher with spreadbetters expecting Britain's FTSE 100.FTSE to open up 0.4 percent, Germany's DAX .GDAXI was seen 0.2 percent higher, and France's CAC 40 .FCHI up 0.3 percent.

MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS broke a five-day losing streak, rising 1.4 percent. While it has gained more than 11 percent since the end of September, it is still down more than 10 percent this year.

Recent gains in Asian stocks have been established on growing hopes that U.S. interest rates aren't likely to rise as quickly as previously thought, and on a growing sense of relief over China's growth numbers as evident from recent official data.

But there as signs of a potential headwind for Asia in the coming months as those factors show the two powerful global engines for world growth, namely the U.S. and China, are sputtering, likely hurting the export-led economies in the region.

Global manufacturing growth accelerated to a seven-month high in October but remained muted despite factories cutting their prices at the steepest rate since May 2013, a business survey showed on Monday.

Frederic Neumann, co-head of Asian economics at HSBC, suspects much of the improvement may be temporary, reflecting the lift from new electronics products, as manufacturers are still cutting jobs or slowing hiring, especially in China, India and South Korea.

That was evident in plenty on Tuesday with a cautious Reserve Bank of Australia holding rates but keeping the option open for further policy easing while price action largely kept within well-trod ranges, especially with Japan out on a holiday.