Nikkei Hits 2019 Highs

Stocks in Asia rose on Tuesday following record closes overnight on Wall Street.

In Japan, the Nikkei 225 returned from a long weekend to climb 401.22 points, or 1.8%, to 23.251.99, as shares of index heavyweight Softbank Group soared 2.4%.

Fujifilm’s stock skyrocketed 6.74% on the day. The firm announced Tuesday it would acquire Xerox’s stake in the Fuji Xerox joint venture for $2.3 billion U.S.

The Japanese yen traded at 108.78 per U.S. dollar after weakening from levels below 108.5 in the previous session.

In Hong Kong, the Hang Seng Index popped 136.1 points, or 0.5%, to 27,683.40.

Australian stocks were also gainers, after the Reserve Bank of Australia (RBA) kept interest rates unchanged on Tuesday.

Following the announcement, the Australian dollar changed hands at $0.6908, after slipping from the $0.692 handle on Monday.

CHINA

In Shanghai, the CSI 300 gathered 24.69 points, or 0.6%, to 4,002.81

A private survey of China’s services sector showed activity slowing to a eight-month low in October. The Caixin/Markit services Purchasing Managers’ Index (PMI) for October came in at 51.1 — its lowest reading since February. The 50-point level separates expansion from contraction in PMI readings.

On the trade front, Chinese President Xi Jinping on Tuesday called for “consultation and cooperation” to resolve international disputes. Xi’s remarks, made at the opening ceremony of the China International Import Expo, did not specifically mention the U.S., which Beijing has been locked in a trade fight with for more than a year.

In other markets

In Taiwan, the Taiex gained 87.18 points, or 0.8%, to 11,644.03

In Korea, the Kospi picked up 12.4 points, or 0.6%, to 2,142.64

In Singapore, the Straits Times Index advanced 12.23 points, or 0.4%, to 3,248.63

In Australia, the ASX 200 added 10.26 points, or 0.2%, to 6,697.13

In New Zealand, the NZX recovered 39.99 points, or 0.4%, to 10,841.54