Asia stocks mostly rise, Hong Kong jumps 2%

Asia stocks mostly rose on Tuesday as the Reserve Bank of Australia’s (RBA) kept its policy settings unchanged.

The Hang Seng index in Hong Kong surged 2% on the day to 24,946.63.

Japanese stocks, which led gains among the region’s major markets on Monday, continued to see robust gains on Tuesday. The Nikkei 225 gained 1.7% to close at 22,573.66 while the Topix index advanced 2.14% to end its trading day at 1,555.26.

The S&P/ASX 200 in Australia surged 1.88% to close at 6,037.60. Australia’s retail sales data for June rose 2.7% month-on-month on a seasonally adjusted basis, according to data released Tuesday by the Australian Bureau of Statistics. That was higher than expectations of a 2.4% increase in a Reuters poll.

South Korea’s Kospi gained 1.29% to close at 2,279.97.

Mainland Chinese stocks were mixed on the day, with Shanghai composite gaining 0.11% to about 3,371.69 while the Shenzhen component dipped 0.745% to around 13,860.46.

Overall, the MSCI Asia ex-Japan index rose 1.47%.