Asian markets jumped on Tuesday while oil and gold prices pared losses amid rising geopolitical concerns in the Middle East.
Markets in Japan sprang back up again Tuesday, with the Nikkei 225 recovering 370.86 points, or 1.6%, to 23,575.72.
Most sectors gained, with tech stocks trading up. Nintendo pared some earlier gains to rise 0.5%, while Softbank was up 1.7%, and Sony surged 3.2%.
Auto stocks in Japan also strengthened, with major stocks up more than 1%. Mazda surged 2.3%, Honda jumped 2.7%, Toyota was up 2%, and Nissan rose 1.8%.
The Japanese yen traded at 108.30 against the U.S. dollar, weakening again from levels around 107.8 last week as investors sought the safe-haven currency.
The Hang Seng index regained 95.87 points, or 0.3%, to 28,322.06.
Korean stocks traveled higher, led by the tech and cosmetics sectors.
Australian markets pulled higher, too. Oil stocks saw gains, with Santos up 2.3%, Woodside Petroleum rising 0.8% and Oil Search gaining 2.4%. The heavily weighted financials sector was up 1.5%.
Meanwhile, bushfires are set to affect the country’s major dairy industry, with fire-affected regions accounting for around a third of Australia’s output. Australia is the world’s seventh-largest dairy exporter.
Shares of Australia’s largest processor Bega Cheese fell as much as 10% on Monday, but pared losses on Tuesday to rise 2.81% by the close. It said Monday that its production facilities have not suffered any impact from the fires, but a number of its suppliers were affected.
The Australian dollar was last at around $0.6901, weakening from an earlier high of 0.6942.
In other markets
In Shanghai, the CSI 300 re-surged 30.93 points, or 0.8%, to 4,160.23.
In Taiwan, the Taiex stumbled 73.04 points, or 0.6%, to 11,880.32
In Korea, the Kospi index revived 20.47 points, or 1%, to 2,175.54
In Singapore, the Straits Times Index eked up 29 points, or 0.9%, to 3,247.86
In New Zealand, the NZX 50 edged 2.54 points to 11,629.86
In Australia, the ASX 200 grew 90.73 points, or 1.4%, to 6,826.44
