Asia Jumps on Korea Rally

Shares in Asia-Pacific were mixed on Tuesday, with South Korea leading major markets regionally.

The Nikkei 225 regained 212.88 points, or 0.7%, to 29,751.61.

The Japanese yen traded at 109.35 per U.S. dollar, stronger than levels above 109.5 against the greenback seen yesterday.

In Hong Kong, the Hang Seng index recovered 43.97 points, or 0.2%, to 28,497.25.

In Hong Kong, Chinese e-commerce giant Alibaba rose 0.4% on Tuesday, adding to gains of more than 6% on Monday. The Chinese central bank announced Monday that Alibaba’s financial technology affiliate Ant Group is to restructure as a financial holding company.

Hong Kong-listed shares of chipmaker SMIC also jumped 1.2%.

Other Hong Kong-listed Chinese tech firms declined. Tencent slipped 0.9% while Meituan plunged 7.4%.

Tech titans Tencent and Meituan were among 34 firms mentioned in a statement released Tuesday by Chinese regulators that warned so-called "platform companies" to make sure they examine their actions and rectify any anti-competitive practices within a month. It comes just days after Alibaba was slapped with a $2.8-billion U.S. fine for violating anti-monopoly rules.

The Australian dollar changed hands at $0.7613, lower than levels above $0.765 seen in the previous trading week.


In Shanghai, the CSI 300 fell 8.11 points, or 0.2%, to 4,939.64

China’s exports in March rose 30.6% from a year ago, according to customs data released Tuesday. Economists had expected exports to grow 35.5% from a year ago.

Chinese imports for March jumped 38.1% from a year earlier, above expectations in an economist poll for a 23.3% on-year increase.

In other markets

In Singapore, the Straits Times index restocked 13.97 points, or 0.4%, to 3,187.90

In Korea, the Kospi index advanced 33.49 points, or 1.1%, to 3,187.90.

In Taiwan, the Taiex index dumped 34.79 points, or 0.2%, to 16,824.91.

In New Zealand, the NZX 50 ramped up 137.71 points, or 1.1%, to 12,656.42.

In Australia, the ASX 200 notched ahead 2.97 points to 6,976.92.