Japan’s Nikkei 225 gave up earlier gains Tuesday after Sanae Takaichi became the country’s first woman prime minister, winning 237 votes in the 465-seat lower house, according to NHK. The Topix also pared gains, settling near the flatline after hitting a record earlier in the day.
Meanwhile, South Korea’s Kospi surged 2%, marking its sixth consecutive record high, driven by optimism over an imminent trade deal with the U.S. Hyundai Motor climbed 6.45%, Kia Corp rose 4.28%, and Samsung Electronics added 1.73%. The Kospi is up roughly 61% year-to-date.
In Australia, the ASX/S&P 200 gained 0.5%. Shares of rare earth and critical minerals companies rallied after Prime Minister Anthony Albanese and U.S. President Donald Trump signed a bilateral agreement: Lynas Rare Earths +3.8%, Iluka Resources +6%, Pilbara Minerals +4.7%, VHM +30%, and Northern Minerals +15%.
Hong Kong’s Hang Seng Index rose 1.17%, with the Hang Seng Tech Index up 1.84%. CSI 300 advanced 0.3%. Battery maker CATL, a Tesla supplier, jumped 4.73% after reporting a 41% rise in Q3 net profit to 18.5 billion yuan ($2.6B).
Indian markets were closed for a holiday.U.S. equity futures were mostly unchanged ahead of a heavy earnings week and inflation data. Overnight, U.S. markets rose: Dow Jones +1.12% (46,706.58), S&P 500 +1.07% (6,735.13), and Nasdaq +1.37% (22,990.54), boosted by Apple shares following an upgrade by Loop Capital.