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Asia Closes Higher as Oil Loses Steam

Asian markets closed higher on Tuesday, with oil prices tracking lower following President Donald Trump's announcement that he would make a decision on the Iran nuclear deal on Tuesday during U.S. hours.

In Japan, the Nikkei 225 gained 41.53 points, or 0.2%, to 22,508.69. Financials and technology rose, while the mining and oil sectors fell 1.4% and 1.3% respectively.

Against the yen, the U.S. dollar slipped to trade at 108.90.

In Hong Kong, the Hang Seng Index zoomed 408.55 points, or 1.4%, to 30,402.81. The technology and heavily weighted financials sectors were among the best-performing before the market close, with Tencent last higher by late afternoon.

Strength in the technology sector stateside carried over to the Asian trading day, buoying the Korean index, with heavyweight Samsung Electronics rising 1.4% and chipmaker SK Hynix climbing 0.6%.

Australian markets were up on the day, as the 0.8% gain in the financials sector supported the index's overall gains despite declines in energy and materials.

The Australian dollar, which dipped below $0.75 U.S. in the morning on the back of weak retail sales data, recovered slightly to trade at $0.7513.

CHINA

In Shanghai, the CSI 300 picked up 44.49 points, or 1.2%, to 3,878.68

On the economic front, investors digested China April trade data, which topped expectations. China reported imports rose 21.5% on year and exports increased by 12.9%. Both of those figures beat forecasts of 16% import growth and 6.3% export growth.

In other markets

In Korea, the Kospi index returned from a long weekend to drop 11.57 points, or 0.5%, to 2,449.81

In Singapore, the Straits Times Index regrouped 10.31 points, or 0.3%, to 3,543.17

In Taiwan, the Taiex Index rocketed 86.47 points, or 0.8%, to 10,691.38

In New Zealand, the NZX 50 added 6.65 points, or 0.1%, to 8,594.59

In Australia, the ASX 200 gained 7.41 points, or 0.1%, to 6,091.89