Asian stock markets are mostly higher on Tuesday following the positive cues overnight from Wall Street. Optimism about the reopening of economies around the world helped offset worries about rising U.S.-China tensions and political unrest in the U.S. Reports indicated China has told state-owned firms to halt purchases of some U.S. farm goods amid tensions over Hong Kong.
Mainland Chinese stocks nudged higher on the day, with the Shanghai composite up 0.2%. Hong Kong’s Hang Seng index saw gains as well, rising 1.0%, as of its final hour of trading. In Japan, the Nikkei 225 added 1.2% as shares of index heavyweight and conglomerate Softbank Group surged more than 3% while the Topix index finished its trading day 1.2% higher. South Korea’s Kospi also closed 1.1%.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 97.861 after slipping from levels above 98 seen on Monday.
Oil futures steadied with traders waiting to see whether major producers agree to extend output cuts at an OPEC+ meeting later in the week.