TMN - Asia-Pacific

Asia-Pacific shares edge higher; Nikkei 1.84% up

On Tuesday, most of the Asia-Pacific shares traded in the positive territory, with Japanese stocks leading gains.

The Nikkei 225 index soared 1.84% or 475.09 points to the 26,246.31 mark. Likewise, the broader TOPIX index surged 2.05% or 37.26 points to the 1,856.20 mark.

Subsequently, market heavyweight SoftBank Group added 2.88%, and Uniqlo operator Fast Retailing rose 0.50%. Among automakers, Honda climbed 1.40%, and Toyota rocketed 2.35%

In the tech space, Advantest, Tokyo Electron, and Screen Holdings added more than 1.00% each. Similarly, in the banking sector, Sumitomo Mitsui Financial and Mitsubishi UFJ Financial increased by almost 2.00% each. Meanwhile, Mizuho Financial inched up by roughly 1.00%.

In addition, the major exporters traded higher, contributing gains to the Asia-Pacific stocks. For instance, entertainment giant Sony hiked 3.99% and Canon raised 1.54%. At the same time, Mitsubishi Electric and Panasonic widened more than 1.00% each.

Moreover, Hong Kong stocks also traded green, following the majority of the Asia-Pacific shares. The Hang Seng index elevated 1.80% or 380.35 points to the 21,544.26 mark.

Conversely, in mainland China, the Shanghai composite benchmark slashed 0.26% or 8.71 points to the 3,306.72 mark. Then, the Shenzhen component index lost 0.51% or 63.27 points to the $12,423.86 mark.

Australian stocks up as Asia-Pacific shares rise

Meanwhile, Australian stocks are also the major gainers among the Asia-Pacific shares. The S&P/ASX 200 index grew 1.41% or 90.40 points to the 6,523.80 mark.

Among the significant miners, Rio Tinto soared 2.27% as Mineral Resources jumped 2.07%. Then, OZ Minerals accelerated 5.91% and Fortescue Metals advanced 3.47%.

However, Asia-Pacific traders remained cautious as they brace for further interest rate hikes. Reserve Bank of Australia Governor Philip Lowe reiterated today that the country should prepare for further rate increases.

In New Zealand, the S&P/NZX 50 index climbed 1.07% or 113.39 points to the 10,701.59 mark.

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