Asia-Pacific Hoisted by Tech Strength

Shares in Asia-Pacific closed higher on Tuesday, with tech stocks in the region jumping following similar gains overnight for their counterparts on Wall Street.

In Japan, the Nikkei 225 recovered 190.06 points, or 0.7%, to 29,215.52.

In Hong Kong, the Hang Seng leaped 377.46 points, or 1.5%, to 25,787.21.

The Japanese yen traded at 114.01 per U.S. dollar after weakening last week from below 113.4 against the greenback.

Hong Kong-listed shares of Alibaba climbed 1.3%, and Meituan jumped 1.8%.

Japanese conglomerate Softbank Group also saw its stock soaring 3.06% while shares of South Korean chipmaker SK Hynix advanced 0.62%.

Investors also monitored Apple supplier shares in Asia after the Cupertino-based tech giant announced new products on Monday.

Shares of Apple suppliers in Japan fell. Taiyo Yuden dropped around 2% while Murata Manufacturing slipped 0.74%.

Elsewhere, shares of Taiwan Semiconductor Manufacturing Company jumped 1.69%. Luxshare’s stock in mainland China also surged 6.32%.

Minutes from the Reserve Bank of Australia’s October monetary policy meeting showed the RBA expecting the Australian economy to "return to growth in the December quarter and to its pre-Delta path in the second half of 2022."

The Australian dollar changed hands at $0.7462, above levels below $0.74 seen yesterday.

In other markets

In China, the CSI 300 restocked 47.94 points, or 1%, to 4,922.72.

In Taiwan, the Taiex jumped 195.21 points, or 1.2%, to 16,900.67.

In Korea, the Kospi index gained 22.36 points, or 0.7%, to 3,199.01

In Singapore, the Straits Times grabbed 25.19 points, or 0.8%, to 3,199.01

In New Zealand, the NZX 50 heightened 67.41 points, or 0.5%, to 13,065.92

In Australia, the ASX 200 dropped 6.22 points, or 0.1%, at 7,374.85