Japan stocks jump to record high as Asia markets track Wall Street gains

Asia-Pacific markets traded mostly higher Tuesday, tracking Wall Street gains boosted by tech stocks.

Japan’s benchmark Nikkei 225

jumped 0.9% to a record high, notching a second straight day of gains after the country’s Prime Minister Shigeru Ishiba announced his resignation Sunday. The Topix similarly rose 0.52%.

“Investors are betting that the next leader from the ruling Liberal Democratic Party (LDP) could unleash a new wave of fiscal stimulus to bolster the economy,” XTB Investing’s senior market analyst Hani Abuagla wrote in a note.

The Japanese yen strengthened 0.1% to 147.38 against the greenback.