Asia stocks shake off US tech slump, loonie jumps on rate hike prospect

ASIA_-_japan_market Asian stocks crept higher on Tuesday, defying a weak lead from Wall Street, which was dragged lower by technology stocks for a second day, while the Canadian dollar soared on the possibility interest rates might go up sooner than expected.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.1 percent in early trade.

Japan’s Nikkei slipped 0.3 percent.

South Korea’s KOSPI gained 0.3 percent, with the biggest stock Samsung Electronics flat after Monday’s 1.6 percent slump. Naver Corp. and LG Innotek , which led Asian losses on Monday, also recovered.

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