Most Asian markets edge higher; Hang Seng rises 1.1%

Asian markets traded mostly higher on Tuesday as the dollar nursed overnight losses.

Japan's Nikkei 225, which had earlier hovered near the flat line, rose 0.55 percent late in the morning.

Subaru advanced 2.59 percent to outperform its peers. The company said it expected sales stateside to increase by 5 percent this year to 680,000 vehicles, the Wall Street Journal reported Monday. Other Japanese automakers were mostly higher: Toyota added 0.82 percent and Honda tacked on 0.15 percent.

Across the Korean Strait, the Kospi erased early losses to climb 0.19 percent as index heavyweight Samsung Electronics rose 1.36 percent. Rival chipmaker SK Hynix also recorded gains, climbing 0.96 percent. Automakers also rose as the session progressed, with Hyundai Motor adding 1.29 percent.

Brokerages and manufacturing names, however, traded lower on the day.

Down Under, the S&P/ASX 200 slipped 0.23 percent as the energy, utilities and telecommunications sectors led losses on the broader index. The heavily-weighted financials sector declined 0.27 percent.

Rio Tinto shares declined 0.42 percent, paring earlier gains made after it reported fourth-quarter production figures. The company said 2017 iron ore shipments rose 1 percent and were in line with guidance. Fourth-quarter iron ore shipments rose 3 percent compared to the same period one year ago.

The Hang Seng Index bounced 1.09 percent after ending a 14-day winning streak in the last session. Index heavyweights Tencent and HSBC were up 2.4 percent and 0.3 percent, respectively, as financials, casinos and energy-related plays notched gains.

On the mainland, the Shanghai composite edged up 0.41 percent and the Shenzhen composite rose 0.683 percent. Despite the broader move higher, airline stocks suffered steep losses in the morning, with Air China falling 3.73 percent and China Eastern Airlines losing 3.39 percent.

Source: Bloomberg Pro Terminal

Jr Trader Alexander Kumanov

Read more:

• And for all the bounty hunters: Iran offers $80m for the head of Donald Trump
• US service member and 2 US Defense Dept contractors killed in Kenya attack
• Iranian Quds leader Qasem Soleimani has been killed – how are markets reacting
• A calm end of an otherwise loud 2019
• Old but Gold – Top 5 posts of Varchev Finance