Markets in Asia-Pacific were mixed following Wall Street’s solid rebound rally overnight in the best day since Aug. 10 for all three averages.
Investors will also be closely watching Federal Reserve Chair Jerome Powell’s speech Thursday as markets brace for another 75 basis-point hike later this month.
The Nikkei 225 sprang back to life, gaining 634.98 points, or 2.3%, to 28,065.28.
The Japanese yen stood at 143.85 against the greenback and the Korean won was 1,381.61.
In Hong Kong, the Hang Seng index parted with 189.68 points, or 1%, to 18,854.62.
Apple suppliers in Asia rose after the company announced new products including the iPhone 14, new AirPods and Apple Watches.
Panasonic Holdings in Japan traded 3.3% higher, TDK Corporation was up 1.3% Nidec rose 2.76% and Murata Manufacturing Company was 1.74% higher.
In Taiwan, Hon Hai Precision Industry rose 0.94% while Catcher Technology also rose 0.3%.
Reserve Bank of Australia Governor Philip Lowe said the central bank “recognizes” that “the case for a slower pace of increase in interest rates becomes stronger as the level of the cash rate rises.”
National Australia Bank economist Tapas Stickland said Lowe’s remarks may be “signaling a downshift to 25bp increments at some point.”
Australia posted a record drop in its trade surplus mainly due to falling iron ore and coal exports.
Exports in July fell 10% from the month before while imports rose 5%, resulting in a shrunken trade surplus of $8.7 billion Australian dollars in July from A$17.1 billion the month before.
In other markets
In Shanghai, the CSI 300 fell 17.3 points, or 0.4%, to 4,037.68.
In Taiwan, the Taiex regained 173.37 points, or 1.2%, to 14,583.42
In Korea, the Kospi index nicked ahead 7.82 points, or 0.3%, to 2,384.28
In Singapore, the Straits Times Index recovered 22.78 points, or 0.7%, to 3,233.61.
In Australia, the ASX 200 jumped 119.33 points, or 1.8%, to 6,848.67.
In New Zealand, the NZX hiked 119.33 points, or 1.8%, to 11,677.93.
