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.
gained 1.9% and Hong Kong’s Hang Seng index
rose 1.4%. On the Chinese mainland, the Shanghai Composite
advanced 1.5% while the smaller-cap Shenzhen Composite
rose 1.7%. South Korea’s Kospi
nudged up 0.9% and Australia’s S&P/ASX 200
inched up 0.3%. Indexes rose in Taiwan
, but Indonesia
was slightly in the red.
Among individual stocks, Hitachi
surged in Tokyo trading, as did Nintendo
and Fast Retailing
. Telecom China Mobile
and insurer AIA
gained in Hong Kong, while Samsung
rose in Korea. Energy stocks such as Santos
and Beach Energy
advanced again in Australia.
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