Asia-Pacific markets rose Tuesday, following an overnight rally in technology shares on Wall Street that saw the S&P500 and NASDAQ Composite post back-to-back gains.
In Japan, the Nikkei 225 recovered from Monday’s collapse, gaining 776.25 points, or 2%, to 40,053.30, due to a rally in tech stocks.
In Hong Kong, the Hang Seng index dumped 240.71 points, or 1.2%, to 19,447.58.
Shares of Nippon Steel fell about 1.52% after the company, along with U.S. Steel, sued the U.S. government over President Joe Biden’s decision to block Nippon Steel’s $14.9-billion takeover of the U.S company.
Hong Kong-listed tech stocks are in the spotlight after the U.S. Defense Department added Chinese tech giant Tencent Holdings and battery maker CATL to a list of firms it calls “Chinese military companies.”
Tencent’s Hong Kong-listed shares are currently down almost 8%.
Taiwanese chip manufacturer Taiwan Semiconductor Manufacturing Company hit a fresh high on Tuesday, building on the previous session’s gains.
In other markets,
The CSI 300 regained 27.14 points, or 0.7%, to 3,796.11.
In Singapore, the Straits Times index inched ahead 6.33 points, or 0.2%. to 3,828.17
In Korea, the Kospi index eked up 3.46 points, or 0.1%, to 2,492.10.
In Taiwan, the Taiex index added 103.56 points, or 0.4%, to 23,651.27.
In New Zealand, the NZX 50 dropped 30.87 points, or 0.2%, to 13,042.06.
In Australia, the ASX 200 picked up 27.65 points, or 0.3%, to 8,285.09.