Anika Begay
The performance of Japanese markets was largely driven by the country’s technology and financial sectors.
Doctoregg | Moment | Getty Images
Japan’s major stock indexes gained more than 2% on Tuesday as markets resumed trading after the holiday.
The benchmark Nikkei 225 index jumped 2.72% and topped 36,000 for the first time since Aug. 2. The broader Topix gained 2.25%.
The momentum has been largely driven by the country’s technology and financial sectors, with Rakuten Group and Trending Micro with a jump of over 8% and 6% respectively.
The country’s parliament plans to hold a special session next week to discuss the Bank of Japan’s decision to raise interest rates last month, Reuters reported, citing government sources.
Japan’s producer price index rose 3 percent in July from a year earlier, a faster pace than June’s 2.9 percent rise.
South Korean stock Kospi fell 0.2%, while small-cap Kosdaq lost 1.57%.
Wages in Australia rose 0.8% in the quarter to June, the slowest pace from the same quarter a year earlier, compared with estimates for a 0.9% increase. Wages rose 4.1% year-on-year.
The Australian S&P/ASX 200 index rose 0.16%.
from Hong Kong Hang Seng Index opened the trading day with a gain of 0.4%, while the CSI 300 index of mainland China opened up 0.06%.
In Southeast Asia, Singapore reported its economy expanded 2.9% in the second quarter from a year earlier, in line with its advance estimate of gross domestic product released in July. The Ministry of Trade and Industry cited strength in wholesale trade, finance and insurance, and information and communications. The city-state also said it expected GDP growth in 2024 to be 2% to 3%, up from its previous forecast of 1% to 3%.
US markets faced a choppy session overnight as investors braced for key inflation data.
The S&P 500 ended the day unchanged at 5,344.39, while the technology-heavy Nasdaq Composite rose 0.21% to close at 16,780.61, led by shares of Nvidia up 4%. In contrast, the Dow Jones Industrial Average fell 140 points or 0.36% to close at 39,357.01.
Traders are awaiting Wednesday’s consumer price index for July, a key indicator of the health of the U.S. economy. Investors will be watching the data for signs that the Federal Reserve may begin cutting rates in September.
—Vscek’s Brian Evans and Tanaya Macheel contributed to this article.
