Asian Markets Higher Tuesday

Asia markets traded mostly higher on Tuesday, following gains in U.S. equities overnight amid strong economic data. This will be a short week for the U.S. stock market, which is set to be closed Thursday for the Thanksgiving holiday.

In Japan, the Nikkei 225 recovered 154.72 points, or 0.7%, to 22,416.48

The Hang Seng Index leaped 557.76 points, or 1.9%, to 29,818.07

Among other currency majors, the Japanese yen traded at 112.52 to the U.S. dollar, strengthening from an earlier session high of 112.70.

Australian markets lost ground, with the heavily-weighted financial sector up 0.16 percent and the country's so-called Big Four banks finished mixed.

Shares of ANZ closed up 0.2% Commonwealth Bank slipped 0.04%, Westpac up by 0.3% and the National Australia Bank closed flat.

The Australian dollar traded at $0.7543 U.S., falling from a session high of $0.7557. Earlier, the Reserve Bank of Australia released minutes from its November monetary policy meeting, during which the central bank had left the cash rate unchanged at 1.5%.

The minutes noted there was "considerable uncertainty around when and how quickly wage pressures might emerge" and how much of that would "add to inflationary pressure."

In other markets

In Shanghai, the CSI 300 added 73.87 points, or 1.8%, to 4,217.70

In Korea, the Kospi index inched forward 3.03 points, or 0.1%, to 2,530.70

In Taiwan, the Taiex Index restored 114.69 points, or 1.1%, to 10,779.24

In Singapore, the Straits Times Index moved higher 36.79 points, or 1.1%, to 3,423.38

In New Zealand, the NZX 50 dropped 1.32 points to 8,088.48

In Australia, the ASX 200 gained 17.85 points, or 0.3%, to 5,963.52