Asia Markets: Asian markets rally after Wall Street snaps losing streak

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

NIK, +1.84%

  gained 1.9% and Hong Kong’s Hang Seng index

HSI, +1.10%

  rose 1.4%. On the Chinese mainland, the Shanghai Composite

SHCOMP, +0.64%

  advanced 1.5% while the smaller-cap Shenzhen Composite

399106, +0.72%

  rose 1.7%. South Korea’s Kospi

SEU, +0.88%

  nudged up 0.9% and Australia’s S&P/ASX 200

XJO, -0.09%

  inched up 0.3%. Indexes rose in Taiwan

Y9999, +0.91%

  and Singapore

STI, +0.93%

 , but Indonesia

JAKIDX, -0.26%

  was slightly in the red.

Among individual stocks, Hitachi

6501, +4.11%

  surged in Tokyo trading, as did Nintendo

7974, +3.50%

  , Sony

6758, +2.55%

  and Fast Retailing

9983, +2.97%

 . Telecom China Mobile

0941, +1.75%

  and insurer AIA

1299, +1.11%

  gained in Hong Kong, while Samsung

005930, +2.52%

  rose in Korea. Energy stocks such as Santos

STO, +1.91%

  and Beach Energy

BPT, +3.00%

  advanced again in Australia.

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