Australia stocks jump after smaller-than-expected rate hike; Asia
Pedestrians wearing face masks walk past a monitor displaying the Nikkei 225 index on February 25 in Tokyo, Japan.
Tomohiro Ohsumi | Getty Images
Asia-Pacific shares traded higher on Tuesday after stocks on Wall Street rallied overnight.
The Nikkei 225 in Japan rose 2.96% to close at 26,992.21, marking the biggest daily gains since March 23. The Topix index gained 3.21% to close at 1,906.89. South Korea’s Kospi advanced 2.5% to close at 2,209.38.
MSCI’s broadest index of Asia-Pacific shares outside Japan gained 1.95%. In Australia, the S&P/ASX 200 jumped 3.75% to close at 6,699.3. The Reserve Bank of Australia raised its benchmark interest rate by 25 basis points.
Markets in mainland China and Hong Kong were closed for a holiday.
The Dow Jones Industrial Average popped 765.38 points, or nearly 2.7%, to close at 29,490.89. The S&P 500 advanced about 2.6% to 3,678.43. The Nasdaq Composite added nearly 2.3% to end at 10,815.43.
It was the best day since June 24 for the Dow, and the S&P 500′s the best day since July 27.
— CNBC’s Tanaya Macheel and Samantha Subin contributed to this report.
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