Markets

Asian Stocks Mostly Higher as TPP Pact Boosts Shares

Most markets in Asia closed higher on Tuesday, with market commentators highlighting apparent progress in negotiations over the Trans-Pacific Partnership as driving gains.

Agreement was reached on the free-trade area around the Pacific Rim, linking the U.S., Japan and 10 other countries, late Monday. Tipped to phase out thousands of import tariffs, Japan stands to reap huge economic benefits from the deal, to which China is not party. The Nikkei posted a 1% gain Tuesday.

The Shanghai Composite remained closed for the week-long National Day holiday. Hong Kong's Hang Seng closed lower despite big gains in the energy and casino sectors, as banking and real estate stocks turned negative.

Australia ASX All Ordinaries +14.90 +0.29% 5,199.00

Shanghai SE Composite Index Closed

Hang Seng -41.67 -0.19% 21,812.83

Nikkei 225 +180.61 +1.00% 18,186.10

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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