Markets in Asia closed higher on Tuesday, taking cues from the rally in U.S. stocks as investors temporarily set aside recent trade-related concerns.
In Japan, the Nikkei 225 gained 144.71 points, or 0.7%, to 22,196.86. Against the yen, the U.S. dollar firmed to trade above the 111 level, and was last at 111.08.
The index notched its third consecutive close higher. Financials were in positive territory, but the consumer goods sector finished lower. Among heavyweights, Uniqlo-owner Fast Retailing rose 1.7% while robotics and automation manufacturer Fanuc added 1.5%
In Hong Kong, the Hang Seng backed off 6.25 points to 28,682.25, with the energy sector leading gains before the market close. Financials were higher for the most part, with HSBC up 0.9%, while technology stocks slid ahead of the close
Korean markets rose as steelmakers recovered some losses seen in the last session. Large cap technology names were mixed, with Samsung Electronics tacking on 1.5%.
Australian markets were down as the heavily weighted financials sub-index dropped 1% amid declines seen across most sectors.
In individual movers, Yahoo Japan popped 11.4% after SoftBank Group said its subsidiary will buy shares worth around 221 billion yen ($1.99 billion U.S.), or a 10.8% stake, in Yahoo Japan. Those shares are currently held by Altaba.
Meanwhile, Nissan Motor said Monday it had discovered misconduct in exhaust emissions and fuel economy measurement tests. Shares of the automaker were up 3.8% moving in the same direction as other major Japanese automakers.
Shares of oil refiners Idemitsu Kosan gained 12.6% and Showa Shell Sekiyu finished up 9.7%, after the companies came to a consensus on a merger next year.
CHINA
In Shanghai, the CSI 300 gained 8.34 points, or 0.2%, to 3,467.52
On the economic front, China's June consumer price index rose 1.9% compared to one year ago, in line with analyst forecasts. The producer price index, meanwhile, rose 4.7% from one year ago, topping the 4.5% expected.
In other markets
In Singapore, the Straits Times Index climbed 46.01 points, or 1.4%, to 3,274.83
In Taiwan, the Taiex index hiked 36.61 points, or 0.3%, to 10,756.89
In Korea, the Kospi index was positive 8.36 points, or 0.4%, to 2,294.16
In New Zealand, the NZX 50 dumped 38.72 points, or 0.4%, to 9,022.93
In Australia, the ASX 200 subtracted 27.94 points, or 0.4%, to 6,258.10
