Japan’s Nikkei 225 leads gains as Asia stocks mostly rise after S&P 500 closes at new record overnight

Soegeefx AppsAsia MarketJapan’s Nikkei 225 leads gains as Asia stocks mostly rise after S&P 500 closes at new record overnight

Shares in Asia largely rose in Tuesday trade after the S&P 500 notched yet another record close on Wall Street overnight.

Japan’s Nikkei 225 led gains among the region’s major markets as it gained 1.13% while the Topix index advanced 1.04%.

Elsewhere, Hong Kong’s Hang Seng index sat slightly lower by the afternoon.

Hong Kong-listed Chinese tech stocks largely fell, with shares of Tencent down 2.87% while Meituan dropped 2.21%. Alibaba shares, on the other hand, gained 0.44%. The Hang Seng Tech index declined 0.99%.

Those moves came after the Finalcial Times reported Didi has indefinitely barred employees from selling their shares. Meanwhile, uncertainty remains over the outlook for Chinese companies looking to pursue overseas IPOs.

In mainland China, the Shanghai composite slipped 0.16% while the Shenzhen component advanced 0.103%.

South Korea’s Kospi gained 0.12%.

MSCI’s broadest index of Asia-Pacific shares outside Japan climbed 0.21%.

Markets in Australia are closed on Tuesday for a holiday.

S&P 500 rises to new record again

Overnight stateside, the S&P 500 jumped almost 1.4% to its 69th record close of the year. The tech-heavy Nasdaq Composite also saw robust gains, surging 1.39% to 15,871.26. The Dow Jones Industrial Average climbed 351.82 points to 36,302.38.

Currencies and oil

The U.S. Dollar index, which tracks the greenback against a basket of its peers, was at 96.097 — still off levels above 96.6 seen last week.

The Japanese yen traded at 114.87 per dollar, following yesterday’s weakening from levels below 114.5 against the greenback. The Australian dollar was at $0.7236, largely holding on to gains after its rise from below $0.714 last week.

Oil prices were higher in the afternoon of Asia trading hours, with international benchmark Brent crude futures up 0.1% to $78.68 per barrel. U.S. crude futures also gained 0.26% to $75.77 per barrel.

Source: CNBC

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