Stocks in Asia Pacific were mostly higher on Tuesday as investor sentiment continues to remain elevated amid an easing of coronavirus lockdown measures.
In Tokyo, the Nikkei 225 lost 87.07 points, or 0.4%, to 23,091.03.
The Japanese yen traded at 108.09 per U.S. dollar after strengthening sharply from levels above 109.2 yesterday.
The Hang Seng index in Hong Kong powered higher 280.45 points, or 1.1%, to 25,077.22.
In corporate news, the South China Morning Post reported Tuesday that the Hong Kong government will bail airline Cathay Pacific out with 30 billion Hong Kong dollars ($3.87 billion U.S.) in loans and a direct stake. Trading of the Cathay Pacific’s shares in Hong Kong were earlier halted on Tuesday.
Shares of Samsung Group companies in South Korea were mixed on Tuesday. Industry heavyweight Samsung Electronics was 1.1% higher and Samsung Biologics rose 1.8%, while Samsung C&T dropped 0.9%.
Those shares of Samsung Group companies in South Korea were watched after a court in Seoul rejected an arrest warrant for the conglomerate’s de facto leader, Lee Jae-yong, according to local news agency Yonhap.
Previously jailed in 2017 after being found guilty of charges ranging from bribery to embezzlement before being released in February 2018,
Lee is under investigation in relation to a merger of two Samsung affiliates in 2015, a move believed to help him take the reins of the group from his father
The moves regionally came after an overnight rally stateside saw the S&P 500 erasing its losses and entering positive territory for the year.
Markets have seen recent positive momentum as hopes rise of an economic recovery from the coronavirus pandemic. Still, the World Bank said Monday that it forecasts the global economy to shrink by 5.2%, representing the deepest recession since the Second World War.
In Australia, markets came alive with a bang Tuesday. The financial sub-index rose 4.84% as shares of the country’s so-called Big Four banks soared: Commonwealth Bank of Australia was up 5.05%, Westpac jumped 5.8%, Australia and New Zealand Banking Group added 6.2% and National Australia Bank gained 5.1%.
The Australian dollar changed hands at $0.6958, following an earlier high of $0.7042.
In other markets
In Shanghai, the CSI 300 added 25.08 points, or 0.6%, to 4,047.03.
In Korea, the Kospi inched up 4.63 points, or 0.1%, to 2,184.29
In Taiwan, the Taiex index picked up 26.79 points, or 0.2%, to 11,637.11
In Singapore, the Straits Times Index dropped 2.8 points, or 0.1%, to 2,794.17.
In New Zealand, the NZX 50 deleted 225.47 points, or 2%, to 11,298.69.
In Australia, markets returned from a long weekend with a flourish, as the ASX 200 acquired 146.23 points, or 2.4%, to 6,144.95
