Japan Stocks Rise Nearly 2%

Stocks in Asia-Pacific were mixed on Tuesday after major indexes on Wall Street rose to record closing highs stateside.

The Nikkei 225 index in Tokyo roared back, gaining 505.6 points, or 1.8%, to 29,106.01.

Shares of electric vehicle battery makers in Asia-Pacific soared on Tuesday after car rental firm Hertz announced it will be ordering 100,000 vehicles from Tesla by the end of 2022.

In Japan, Panasonic shares jumped 5.6%. South Korea’s LG Chem, owner of electric battery maker LG Energy Solution, gained 1.1%. Over in mainland China, however, shares of Contemporary Amperex Technology fell 2.1% after earlier surging more than 4%.

The Japanese yen traded at 114.01 per U.S. dollar, weaker than levels around 113.7 seen earlier against the greenback.

In Hong Kong, the Hang Seng fell 93.76 points, or 0.4%, to 26,038.27.

Electric vehicle stocks in Hong Kong also jumped, with shares of BYD rising 2.8% and Xpeng soaring 8.8%.

Real estate stocks in Hong Kong declined in Tuesday trade amid fears that Beijing could tax property owners.

Shares of debt-ridden developer China Evergrande Group plunged 4.12% while China Vanke fell 4.66% and Country Garden dropped 4.3%. The Hang Seng Properties index slipped 1.61% to 31,148.49.

Those losses came after China’s top executive body was authorized over the weekend to conduct a property tax test for five years in unspecified regions.

The Australian dollar was at $0.7496, against an earlier low of $0.7482.

In other markets

In China, the CSI 300 docked 16.42 points, or 0.3%, to 4,963.10.

In Taiwan, the Taiex rocketed 140.1 points, or 0.8%, to 17,034.34.

In Korea, the Kospi index advanced 28.54 points, or 0.9%, to 3,049.08.

In Singapore, the Straits Times inched up 2.71 points, or 0.1%, to 3,204.57

Markets in New Zealand returned Tuesday from holiday, with the NZX 50 falling 17.82 points, or 0.1%, to 13,075.41

In Australia, the ASX 200 added 2.42 points, at 7,443.42.