Asian markets experienced a marked recovery on Tuesday after suffering a significant downturn the previous day. However, Japan’s market, which was not open on Monday, saw losses.
China's Shanghai Composite Index surged by 2.5% to conclude at 3,240.94, with trading fluctuating between highs of 3,245.22 and lows of 3,159.43. The Shenzhen Component Index gained an impressive 3.8% to close at 10,165.17. This upswing is linked to speculation regarding a gradual increase in tariffs by the new U.S. administration.
In Japan, the Nikkei 225 benchmark fell by 716 points, or 1.83%, ending the day at 38,474.30. Trading ranged from a high of 39,054.35 to a low of 38,305.91. Among notable performers, M3 advanced by 3.2%, while companies like Pacific Metals Co, Konica Minolta, Aeon Co, and Idemitsu Kosan Co all saw gains exceeding 2%.
On the downside, Advantest Corp, a player in the semiconductor industry, dropped by 9.2%. Fujitsu and Furukawa Electric Co both registered declines of nearly 5%, while Lasertec Corp and Sapporo Holdings each lost more than 5%.
Hong Kong's Hang Seng Index of the Stock Exchange climbed by 346 points, or 1.8%, settling at 19,219.78, within a trading span of 18,901.56 to 19,318.36.
In South Korea, the Kospi Index of the Korean Stock Exchange rose by 8 points, or 0.31%, finishing at 2,497.40. Trading occurred between 2,482.74 and 2,504.89.
Australia’s S&P/ASX 200 climbed by 39 points, or 0.48%, to close at 8,231.00, up from the prior close of 8,191.90. The index traded between 8,191.90 and 8,253.80.
Leading the gains in Australia, Ingenia Communities Group surged over 15% following a positive earnings guidance revision. The Star Entertainment Group rose by 12%, while Whitehaven Coal and Tabcorp Holdings added over 6%. Johns Lyng Group rallied slightly under 6%.
Conversely, Life360 in the software sector experienced a nearly 4% decline. Both West African Resources and Qantas Airways fell by more than 2%, and Pinnacle Investment Management Group and Eagers Automotive saw drops of over 1%.
In New Zealand, the NZX 50 index advanced by 57 points, or 0.44%, closing at 12,884.38, compared to its previous close of 12,827.33. The session had a range between 12,795.82 and 12,895.47.
Companies like EROAD, KMD Brands, and Mercury NZ saw gains exceeding 2%, while Fisher & Paykel Healthcare and Sanford rose more than 1.8%. Meanwhile, Serko and Sky Network Television suffered reductions of over 25%. Meridian Energy, Vista Group International, and Restaurant Brands New Zealand all saw declines of more than 1%.
On Wall Street, Monday concluded with mixed results amid concerns over interest rates, rising bond yields, and anticipation of Wednesday's Consumer Price Index update. The Dow Jones Industrial Average gained 0.86% to close at 42,297.12, while the Nasdaq Composite fell by 0.38%, ending at 19,088.10.
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