People crossing the streets of Shibuya, Tokyo.
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Asia-Pacific markets rose on Tuesday as traders ignored geopolitical flashpoints in Iran and Venezuela and a criminal investigation into US Federal Reserve Chairman Jerome Powell.
Japan’s benchmark Nikkei Stock Average rose 3.1% to close at 53,549.16 yen, leading the region’s gains after resuming trading after the holiday, with the TOPIX rising 2.41% to 3,598.89 yen. According to public broadcaster NHK, Japan’s ruling Liberal Democratic Party plans to dissolve the House of Representatives at the end of this month, possibly opting for a snap election in February.
Index weighting Softbank Although it increased by 4.32%, Advantest and Tokyo Electron They rose by 8.54% and 8.23%, respectively.
The yield on 10-year Japanese government bonds rose more than 5 basis points to 2.15%, and the yield on 20-year Japanese government bonds rose more than 8 basis points to 3.137%.
The Japanese yen fell slightly to a one-year low of 158.25 yen to the dollar.
South Korea’s Kospi rose 1.47% to 4,692.64, while the small-cap Kosdaq closed flat at 948.98.
Traders will also be keeping an eye on oil prices as protests continue in Iran. President Donald Trump is reportedly considering options for intervention in Iran, according to multiple reports on Sunday.
President Trump said in a post on Truth Social on U.S. soil Monday that countries that do business with Iran will be subject to a 25% tariff “on every trade made with the United States.” The new tariffs on imports from Iran’s trading partners “take effect immediately.”
brent crude oil futures It rose 0.5% to $64.19 per barrel. West Texas Intermediate Crude oil rose 0.55% to $59.83.
Australia’s S&P/ASX 200 rose 0.56% to close at 8,808.5.
hong kong Hang Seng Index rose 0.9%, while the CSI 300 fell 0.6% to 4,761.03. Shares of Chinese semiconductor company Gigadevices Semiconductor rose 50% in its Hong Kong debut on Tuesday. The company raised HK$4.68 billion ($600 million) in a public offering at HK$162 per share.
US stock futures were flat in early Asian trading ahead of US consumer inflation data and major bank results.
Overnight in the US, stock prices rebounded from their trading lows, with the S&P 500 and Dow Jones Industrial Average hitting new all-time highs.
The S&P 500 rose 0.16% to end at 6,977.27, and the Dow Jones Industrial Average rose 86.13 points, or 0.17%, to settle at 49,590.20. Both indexes hit new intraday highs and closed at their highest levels. The Nasdaq Composite Index rose 0.26% to close at 23,733.90.
—CNBC’s Sean Conlon, Yun Lee and John Meloy contributed to this report.
