Shares in Asia-Pacific rose on Tuesday as investors reassessed the situation surrounding the omicron COVID variant.
In Japan, the Nikkei 225 revived 579.78 points, or 2.1%, to 28,517.59.
In Japan, shares of Tokyo Electron jumped 4.4% while Advantest gained 4.6%.
The Japanese yen traded at 113.64 per dollar, stronger than levels above 114 seen against the greenback last week.
In Hong Kong, the Hang Seng regained 226.47 points, or 1%, to 22,971.33.
Investors continued to track the situation around the omicron variant, which has cast a shadow over the festive holiday period as curbs have already been introduced in countries across Europe.
Global stocks tumbled on Monday as concerns surrounding the fast-spreading omicron strain weighed on investor sentiment.
Semiconductor stocks in Asia-Pacific rose after Micron delivered stronger-than-expected quarterly earnings. Shares of the U.S.-listed firm soared nearly 7% in after hours trading on Monday.
In South Korea, shares of industry heavyweight Samsung Electronics gained 1.3% while SK Hynix surged 3.3%. Hong Kong-listed shares of SMIC also rose 1.7%.
The Australian dollar was at $0.7117, still struggling to recover after last week’s decline from above $0.72.
In other markets
In China, the CSI 300 picked up 33.07 points, or 0.7%, to 4,913.49
In Taiwan, the Taiex jumped 120.16 points, or 0.7%, to 17,789.27
In Singapore, the Straits Times Index gained 12.11 points, or 0.4%, to 3,085.08
In Korea, the Kospi index renewed 12.03 points, or 0.4%, to 2,975.03
In New Zealand, the NZX 50 leaped 90.42 points, or 0.7%, to 12,856.87
In Australia, the ASX 200 recovered 62.89 points, or 0.9%, at 7,355.05.
