Hong Kong stocks saw a strong rebound and the Hang Seng index on Tuesday after China’s Politburo pledged to “adjust and optimize policies in a timely manner” for its ailing property sector.
In Japan, the Nikkei 225 index eased 18.43 points, or 0.1%, to 32,682.51.
In Hong Kong, the Hang Seng popped 766.25 points, or 4.1%, to 19,434.40.
South Korea saw a 0.9% year-on-year growth in its second quarter gross domestic product, according to advance estimates on Tuesday.
Taiwan Semiconductor Manufacturing Company plans to invest almost $90 billion New Taiwan dollars (about $2.87 billion U.S.) in an advanced chip packaging plant in Taiwan, in a bid to capitalize on the artificial intelligence boom.
The investment is sparked by “the rapid growth of the AI market” which has “driven a surge in demand for TSMC’s advanced packaging,” according to a report from Taiwan’s official Central News Agency.
Following the news, shares of TSMC in Taiwan jumped nearly 2%.
CHINA
In China, the CSI 300 recovered 109.9 points, or 2.9%, to 3,915.12.
Beijing’s top decision making body also vowed to “elevate stable employment to a strategic goal,” along with other pledges to boost consumption and tackle debt risks.
This comes after disappointing economic data last week prompted renewed calls for policy support to bolster growth.
In other markets
In Singapore, the Straits Times Index regained 21.02 points, or 0.6%, to 3,286.16.
In Korea, the Kospi Index cleared breakeven 7.93 points, or 0.3%, to 2,636.46.
In Taiwan, the Taiex index jumped 165.28 points, or 1%, to 17,198.89.
In New Zealand, the NZX 50 staggered 84.36 points, or 0.7%, to 11,933.86
In Australia, ASX 200 hiked 33.26 points, or 0.5%, to 7,329.67.
