Asian stocks climbed on Tuesday, with markets in the region mostly finishing higher after U.S.-China trade jitters weighed on sentiment in the last session.
In Japan, the Nikkei 225 leaped 155.42 points, or 0.7%, to close at 22,672.74.
Driving those gains was the 6.5% surge in SoftBank shares after the index heavyweight reported a 49% jump in its quarterly profit. Most sectors closed in positive territory, with the telecommunications sector leading the gains.
In Hong Kong, the Hang Seng hurtled skyward 429.32 points, or 1.5%, to 28,248.88, extending gains made during the Monday session that had snapped a five-day losing streak. Energy as well as property and construction led the advance, both up by more than 3% before the market close, with Country Garden jumping 6.2%
Among individual movers, shares of China Evergrande Group popped 16.8% in Hong Kong after the developer announced in a Monday update that it expected net profit in the first half to rise by more than 125% compared to one year ago.
Korean markets gained ground. Technology finished higher, with Samsung Electronics gaining 2%, while brokerages and retailers came under pressure.
The Australian market finished the day lower as the Reserve Bank of Australia held rates steady. Declines in the materials and telecommunications sub-indexes weighed on the broader index.
CHINA
In Shanghai, the CSI 300 gained 95.8 points, or 2.9%, to 3,368.87
China last week said it was preparing to impose duties, ranging from 5% to 25%, on around $60 billion in U.S. imports. Beijing said those tariffs would take effect if the U.S. went ahead with imposing more duties on Chinese goods.
Chinese state media claimed the country was being "rational" in its countermeasures, which came after U.S. President Donald Trump asked trade officials to consider increasing proposed tariffs on $200 billion in Chinese goods to 25% from an earlier announced 10%
Both the Shanghai and Shenzhen Composite were in bear market territory at the end of Monday
In other markets
In Singapore, the Straits Times Index picked up 54.66 points, or 1.7%, to 3,340
In Taiwan, the Taiex index moved downward 40.66 points, or 0.4%, to 10,983.44
In Korea, the Kospi index took on 13.66 points, or 0.6%, to 2,300.16
In New Zealand, the NZX 50 dropped 27.4 points, or 0.3%, to 8,875.73
In Australia, the ASX 200 subtracted 19.04 points, or 0.3%, to 6,253.94
