Asia-Pacific markets traded higher on Tuesday as traders shrugged off geopolitical flashpoints in Iran and Venezuela, as well as a criminal investigation into the U.S. Federal Reserve Chair Jerome Powell.
In Japan, the Nikkei 225 returned from a long weekend to accelerate 1,609.27 points, or 3.1%, to 53,549.16.
Japan’s ruling Liberal Democratic Party is expected to dissolve the country’s Lower House later this month and opt for a snap election likely in February, according to public broadcaster NHK.
Index heavyweights SoftBank advanced 4.32%, while Advantest and Tokyo Electron jumped 8.54% and 8.23%, respectively.
Yields on the 10-year Japan government bond rose over five basis points to 2.15%, while yields on the 20-year surged over 8 basis points to 3.137%.
The Japanese yen weakened marginally to a one-year low of 158.25 per dollar.
Hong Kong’s Hang Seng index leaped 239.99 points, or 0.9%, to 26,848.47.
Shares of Chinese semiconductor company GigaDevice Semiconductor jumped 50% in its Hong Kong debut on Tuesday. The company raised HK$4.68 billion ($600 million U.S.) in an offering priced at HK$162 per share.
Traders will also be keeping a close eye on oil prices amid ongoing protests in Iran. President Donald Trump is reportedly weighing options for intervention in Iran, according to multiple reports Sunday.
Trump, in a Truth Social post on Monday stateside, said any country doing business with Iran will face a 25% tariff “on any and all business being done with the United States of America.” That new tariff on imports from Iran’s trading partners is “effective immediately.”
In other markets
The CSI 300 in Shanghai handed back 28.88 points, or 0.6%, to 4,761.03.
In Korea, the Kospi acquired 67.85 points, or 1.5%, to 4,692.64.
In Taiwan, the Taiex climbed 139.93 points, or 0.5%, to 30,707.22
In Singapore, the Straits Times Index gained 40.35 points, or 0.9%. to 4,807.13.
In New Zealand, the NZX 50 dropped 27.24 points, or 0.2%, to 13,656.05.
In Australia, the ASX 200 advanced 49.15 points, or 0.6%, to 8,808.54.
