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Asian stocks mixed after Wall St rally on economic optimism

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TOKYO – Asian shares were mixed Tuesday after a Wall Street rally that reflected some optimism about the economy recovering from the pandemic.

Japan's benchmark Nikkei 225 lost early gains and fell 1.3% to finish at 29,696.63. Australia's S&P/ASX 200 was up 0.8% at 6,885.90.

South Korea's Kospi edged up 0.2% to 3,126.72. The Shanghai Composite inched up less than 0.1% to 3,486.22. Hong Kong trading was closed for Easter.

Yoshimasa Maruyama, chief market economist at SMBC Nikko, noted a gradual recovery in the Japanese economy had been reflected in the recent “tankan” Bank of Japan survey, which was released last week.

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