Japan, Australia Rises as Lunar New Year Continues

Markets in the Asia-Pacific traded higher Tuesday as Lunar New Year holidays were observed in most of the region.

In Japan, the Nikkei 225 gained 393.15 points, or 1.5%, Tuesday to 27,299.19.

The Japanese yen strengthened 0.42% against the U.S. dollar to 130.13 — continuing to trade above 130 for the second consecutive day.

The yield on the 10-year Japanese Government Bonds maintained levels below the central bank’s upper ceiling of its tolerance range and last stood at 0.411%.

Australia gathered a moderate number of points following Wall Street’s tech-fueled rally ahead of major earnings reports.

Markets in Hong Kong, Taiwan, Singapore, South Korea, and mainland China were closed for Chinese New Year.

In other markets

In New Zealand, the NZX 50 dipped 15.79 points, or 0.1%, to 11,932.93

In Australia, the ASX 200 gained 33.13 points, or 0.4%, to 7,490.40.