Japan’s Nikkei 225 is up 3% as stocks rally in Asia Pacific

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SINGAPORE – Asia Pacific stocks rose in trading Tuesday, with Japanese stocks leading the gains among the region’s major markets.

In Japan, the Nikkei 225 rose about 3% in afternoon trading and largely rebounded from a 3% plunge on Monday. The Topix index gained 3.05%.

Mainland stocks rose modestly as the Shanghai composite gained about 0.8% while the Shenzhen component rose 0.181%. Hong Kong’s Hang Seng index was flat.

South Korea’s Kospi gained 0.74%. In Australia, the S & P / ASX 200 gained 1.76%.

MSCI’s broadest index for Asia Pacific stocks outside of Japan rose 0.37%.

On Wall Street, the Dow Jones Industrial Average rose 586.89 points to 33,876.97 points overnight. The S&P 500 was also up 1.4% to 4,224.79, while the Nasdaq Composite was up 0.79% to 14,141.48.

Currencies and oil

The US dollar index, which tracks the greenback versus a basket of its peers, was 91.931 – lower than it was above 92.

The Japanese yen was trading at 110.41 per dollar, weaker than yesterday’s greenback below 110. The Australian dollar traded at $ 0.7521, still from levels above $ 0.768 last week .

Oil prices were higher on the afternoon of Asian trading hours, with international benchmark Brent crude oil futures rising about 0.3% to $ 75.14 a barrel. US crude oil futures rose slightly to $ 73.72 a barrel.