Asian stocks climb on strong Dow close, US service report
HONG KONG (AP) — Asian stocks rose Tuesday following another record day on Wall Street as investor optimism bounced back quickly after the Italian referendum.
Japan's benchmark Nikkei 225 index climbed 0.5 percent to 18,360.54 and South Korea's Kospi jumped 1.4 percent to 1,990.53.
Relief rally has become the favorite description for the overnight trend seen in both European and U.S. stock markets as traders tuned back to riskier assets.
Top business leaders were grilled by lawmakers over allegations that President Park Geun-hye allowed a corrupt confidante to pull government strings and extort companies.
The U.S. rally erased any remaining pessimism following Italy's weekend referendum in which voters defeated proposed constitutional changes, triggering Premier Matteo Renzi's resignation.