Hong Kong markets led gains in Asia-Pacific markets and was set to extend its winning streak to three days, while mainland China’s index also experienced growth.
In Japan, the Nikkei 225 index shed 22.98 points, or 0.1%, to 38,797.51.
This comes as Japan’s corporate inflation rate for February rose to 0.6%, beating the 0.5% expected by economists polled by Reuters and climbing from January’s figure of 0.2%.
A strong inflation reading could also clear the way for the Bank of Japan to raise rates soon, which would weigh on Japan’s equity markets.
In Hong Kong, the Hang Seng index vaulted 505.93 points, or 3.1%, to 17,093.50.
Investors will also be keeping an eye on inflation figures out of India as well as the U.S. later Tuesday, which could give a clue as to when the Federal Reserve will cut interest rates.
CHINA
In Shanghai, the CSI 300 gained 8.23 points, or 0.2%, to 3,597.49.
Chinese billionaire and former Olympic gymnast Li Ning is set to take his sports apparel and equipment company, Li Ning Co, private, according to a Reuters report.
The report said that Li is considering leading a consortium to buy out the company, which had a market capitalization of HK$52.85 billion ($6.8 billion U.S.) as of Monday.
Shares of Li Ning surged by as much as 19.8% on Tuesday, sending the stock to its highest level since November 2023.
In other markets
In Korea, the Kospi index regrouped 21.97 points, or 0.8%, to 2,681.81.
In Taiwan, the Taiex index moved higher 188.47 points, or 1%, to 19,914.56.
Singapore’s Straits Times Index regrouped 3.05 points, or 0.1%, to 3,141.47.
In New Zealand, the NZX 50 subtracted 44.5 points, or 0.4%, to 11,829.18.
In Australia, the ASX 200 edged up 8.31 points, or 0.1%, to 7,712.53.
