Japan, Hong Kong Up as Greenback Recovers

Asia markets gained on Tuesday morning as investors shrugged off the disappointment from the current U.S. administration's ability to push through legislation to repeal and replace the Obama-era health-care law.

The Nikkei 225 in Japan regained 217.28 points, or 1.1%, to 19,202.87, recovering most of its losses from the previous session.

The Hang Seng Index in Hong Kong recovered 152.17 points, or 0.6%, to 24,345.87

Fujitsu and Lenovo Group announced the postponement of their target date for a final deal on their personal computer business tie-up to sometime in the first-half of 2017, the Nikkei business daily reported. Shares of Fujitsu were up 3.4% and the Hong Kong-listed Lenovo was up 3.3%

In Hong Kong , Guotai Junan Securities will kick off its IPO subscription. It plans to raise HK$16.04 billion ($2.1 billion U.S.), and has priced the IPO already, at HK$15.84 per share.

China Southern Airlines shares were up 0.8%, while other major Chinese carriers were negative. The carrier said it was raising 1.55 billion Hong Kong dollars ($255 million U.S.) from selling H-shares to American Airlines group, and will use the net proceeds for general working capital.

Related securities such as Shanghai-listed Guotai Junan Securities fell 0.7% and Hong Kong-listed Guotai Junan International was down 2.3%

Australian stocks staged a recovery of their own, underpinned by strength in the energy sub-index, which was up 1.5%, and the materials sub-index, which was up 1.1%

Australia's Myer dropped 5.2% after rallying about 18% yesterday, amid speculation that a takeover bid was on the cards, although no one has made an announcement.

South Korean issues found their way up after the country revised its fourth-quarter gross domestic product up 2.4% year-on-year, from the 2.3% expected gain. For the full year, the economy grew by 2.8%, expanding at a similar rate to 2015

Against the U.S. dollar, the yen was stronger at 110.6 and the Australian dollar was weaker at $0.7587 U.S., earlier above the $0.76 handle.

In other markets

In Shanghai, the CSI 300 slumped 8.23 points, or 0.2%, to 3,469.81

The Kospi Index in Korea gained 7.65 points, or 0.4%, to 2,163.31

In Taiwan, the Taiex eked back 0.32 points to 9,876.45

In Singapore, the Straits Times Index perked 30.94 points, or 1%, to 3,157.82

In New Zealand, the NZX 50 inched up 2.52 points to 7,065.23

In Australia, the S&P/ASX 200 hiked 74.54 points, or 1.3%, to 5,821.23