By Marketwatch and Associated Press
Asian stocks rallied Tuesday, following strong gains on Wall Street that snapped five straight days of losses. Investors may have also been buoyed by increased optimism over a Brexit vote in the British Parliament later in the day after Prime Minister Theresa May won last-minute concessions from the EU on the so-called Irish backstop.
Japan’s Nikkei /zigman2/quotes/210597971/delayed JP:NIK -0.69% gained 1.9% and Hong Kong’s Hang Seng index /zigman2/quotes/210598030/delayed HK:HSI +0.52% rose 1.4%. On the Chinese mainland, the Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP +2.28% advanced 1.5% while the smaller-cap Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 +3.18% rose 1.7%. South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 -0.06% nudged up 0.9% and Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -0.07% inched up 0.3%. Indexes rose in Taiwan and Singapore /zigman2/quotes/210597985/delayed SG:STI -0.22% , but Indonesia /zigman2/quotes/210597981/delayed ID:JAKIDX +0.0099% was slightly in the red.
Among individual stocks, Hitachi /zigman2/quotes/203839937/delayed JP:6501 -1.15% surged in Tokyo trading, as did Nintendo , Sony /zigman2/quotes/201361720/delayed JP:6758 -2.23% and Fast Retailing /zigman2/quotes/200663563/delayed JP:9983 -1.51% . Telecom China Mobile /zigman2/quotes/200868736/delayed HK:941 +1.38% and insurer AIA /zigman2/quotes/203565558/delayed HK:1299 +0.43% gained in Hong Kong, while Samsung /zigman2/quotes/209800866/delayed KR:005930 -0.49% rose in Korea. Energy stocks such as Santos /zigman2/quotes/207349564/delayed AU:STO -0.73% and Beach Energy /zigman2/quotes/200513631/delayed AU:BPT +0.95% advanced again in Australia.