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Asian Markets Rally after Wall Street’s Advance

Asian Markets Rally after Wall Street’s Advance

Asian Markets traded higher on Tuesday, tracking the gains made by U.S. stock indexes, which notched their second consecutive day of gains after the previous week's steep losses.

In Japan, the benchmark Nikkei 225 index 0.85 percent as markets continued to trade after a long weekend. Most carmakers were slightly higher in the morning, Toyota edged 0.63 percent early in the session. Financials also traded in positive territory in the early going.

Blue chips Fanuc Manufacturing advanced 1.7 percent and Fast Retailing edged up 0.48 percent.

South Korea's Kospi rose 0.63 percent. Tech heavyweights Samsung Electronics and SK Hynix jumped 2.97 percent and 3.09 percent respectively. Carmakers were mixed: Hyundai Motor was unchanged while Kia Motors fell 0.15 percent.

Manufacturing stocks traded mix in the morning. Steelmaker Posco fell 0.83 percent early in the session and Hyundai Steel fell 0.19 percent. LG Chem pared early gains fto fall 0.81 percent.

In Australia, the S&P/ASX 200 rose 0.42 percent as earnings season continued. The best-performers in the morning were the materials sector, while the financial sectors rose by 0.36 percent.

China markets were also trading higher early in the session. Hong Kong's Hang Seng Index advanced 1.48 percent as markets reclaimed gains after declining into correction territory. Tech shares traded mostly higher, with Tencent continuing its rally by rising 2.83 percent.

On mainland China, the Shanghai composite recorded a 1.14 percent gain and the Shenzhen composite rose 0.84 percent.

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