People walk under cherry blossoms in Tokyo on March 31, 2023.
Yuichi Yamazaki | Afp | Getty Images
Asia-Pacific markets rose across the board on Tuesday, except Hong Kong which is set to fall, as investors continue to grapple with the fallout from Evergrande’s liquidation order.
On Monday, shares of the embattled property developer were halted after plunging more than 20%. A Hong Kong court ruled to liquidate the firm, which was once considered one of China’s largest real estate firms.
Futures for Hong Kong’s Hang Seng index stood at 15,838, pointing to a weaker open compared to the HSI’s close of 16,077.24.
Japan’s Nikkei 225 inched up 0.29% and the broad based Topix was marginally above the flatline.
This comes as Japan’s unemployment rate in December fell to 2.4%, lower than 2.5% in the month before and slightly below expectations. Economists polled by Reuters expected the unemployment rate to stay unchanged at 2.5%.
South Korea’s Kospi gained 0.82%, while the small cap Kosdaq rebounded and was up 0.66%.
In Australia, the S&P/ASX 200 started the day up 0.46%, on pace for a seventh straight day of gains.
Overnight in the U.S., the S&P 500 rose Monday and closed at a fresh record high as Wall Street looked toward several mega-cap tech earnings reports and the Federal Reserve’s rate policy decision.
The benchmark index climbed 0.76% to 4,927.93, topping its highest ever close of 4,894.16.
The Dow Jones Industrial Average added 0.59%, while the Nasdaq Composite gained 1.12%.
— CNBC’s Sarah Min and Alex Harring contributed to this report.
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