Across the Korean Strait, the Kospi advanced 0.41 percent to finish the day at 2,395.19. Gains were driven by strong showings through tech heavyweights Samsung Electronics as well as SK Hynix, which surged 3.98 percent as well as 4.3 percent, respectively.
Automakers came under pressure: Hyundai Motor lost 0.97 percent while Kia Motors slid 2.28 percent by the end of the day. Manufacturing names were also downbeat. Steelmaker Posco declined 1.24 percent as well as Hyundai Steel shed 0.76 percent. LG Chem lost early gains to slide 2.02 percent on the day.
Down Under, the S&P/ASX 0 closed higher by 0.6 percent at 5855.9 as earnings season rolled on. The materials as well as gold sectors was among the best-performers on the day, while the heavily-weighted financials sector edged higher by 0.45 percent.
Meanwhile, National Australia Bank’s business conditions index rose in January, indicating strong business activity inside the country. The index stood at +19 index points for the month, above the long-run average of +5 index points, NAB said.
Greater China markets were also buoyant. Hong Kong’s Hang Seng Index rose 1.54 percent by 3:14 p.m. HK/SIN as markets clawed back gains after falling into correction territory last week. Tech shares were were mixed, nevertheless index heavyweight Tencent extended gains, climbing 2.54 percent as well as contributing 72 points to the index’s 381.53-point rise ahead of the market close.
Financials traded firmly in positive territory: HSBC gained 0.69 percent as well as China Construction Bank advanced 1.43 percent by 3:04 p.m. HK/SIN. Hong Kong Exchanges as well as Clearing was up 2.64 percent after the appointment of two fresh board members.
Property developers were also inside the money, with China Evergrande Group up 3.29 percent by 3:05 p.m. HK/SIN. HNA Group unit Hong Kong International Construction Investment Group traded higher by 8.53 percent ahead of the close after of which said of which would likely sell two plots of land to Henderson Land Development for almost 16 billion Hong Kong dollars ($2.05 billion). Henderson shares were up 1.02 percent by 3:05 p.m. HK/SIN.
Trading volumes were lighter than usual, with southbound trading on the stock connect closed, ahead of the Lunar fresh Year holiday.
On the mainland, the Shanghai composite tacked on 1 percent to close at 3,185.6 as well as the Shenzhen composite gained 0.41 percent to end at 1,730.83. The blue chip CSI 300 index finished the day higher by 1.19 percent.
Indian markets were closed on Tuesday for a holiday.
U.S. markets on Monday continued their rebound through what was their worst week in two years, with major stock indexes recording gains of more than 1 percent. Last week’s sell-off, initially triggered by concerns over rising interest rates, saw the Dow as well as S&P 500 lose 5.2 percent on the week.
The yield on the benchmark 10-year U.S. Treasury note touched a fresh four-year high inside the last session. The 10-year Treasury yield stood at 2.85 percent after rising as high as 2.9 percent overnight.
Investors also digested the Discharge of the Trump administration’s $0 billion infrastructure plan.