Japan’s major indexes rose sharply on Tuesday, as trading in the country’s stocks resumed after a holiday, amid a broader rise in Asia-Pacific markets.
The Nikkei 225 index returned to trading with a vengeance after a long weekend, rocketing 1,207.51 points, or 3.5%, to 36,232.51.
In Hong Kong, the Hang Seng index advanced 62.41 points, or 0.4%, to 17,174.06.
The momentum was largely driven by the country’s technology and financial sectors, with Rakuten Group and Trend Micro leaping 9.22% and 6.37%, respectively.
The country’s parliament plans to hold a special session next week to discuss the Bank of Japan’s decision to raise interest rates last month, Reuters reported, citing government sources.
Japan’s producer price index rose 3% in July from a year earlier, climbing at a faster pace compared to 2.9% in June.
In Southeast Asia, Singapore reported its economy grew 2.9% in the second quarter from a year ago, in line with the advance gross domestic product estimate released in July. The Ministry of Trade and Industry cited strength in the wholesale trade, finance and insurance as well as the information and communication sectors. The city-state also said it sees 2024 GDP growth of 2% to 3%, versus its previous forecast of 1% to 3%.
Wages in Australia rose 0.8% in the quarter ended June, the slowest pace since the same quarter a year earlier, compared with estimates of a 0.9% rise. Wages rose 4.1% on an annual basis.
In other markets,
In Shanghai, the CSI 300 declined 5.77 points, or 0.2%, to 3,325.86.
In Taiwan, the Taiex index hiked 304.26 points, or 1.4%, to 21,773.26.
In Singapore, the Straits Times Index faded 26.45 points, or 0.8%, to 3,245.38.
In Korea, the Kospi index recovered 29.87 points, or 1.2%, to 2,618.20.
In New Zealand, the NZX 50 regained 37.79 points, or 0.3%, to 12,281.25.
In Australia, the ASX 200 gained 35.97 points, or 0.5%, to 7,813.67.
