Asian stocks today: Markets trade mostly in green; Nikkei jumps over 200 points, Kospi adds 2.7%

Asian stocks mostly rose on Tuesday, though trading was quiet due to holiday closures in some markets. Japan’s Nikkei 225 hit a new record, lifted by optimism over possible government spending and tax cuts under the country’s soon-to-be first female prime minister.The Nikkei was trading up 0.3% to 48,098, following a nearly 5% surge on Monday after the ruling Liberal Democrats chose Sanae Takaichi as their new leader. Investors are hopeful that Takaichi, who admires the late Prime Minister Shinzo Abe, will introduce policies that support markets and stimulate Japan’s economy.Other markets in Asia were mixed. South Korean Kospi rose 2.7% or 93 points, reaching 3,549. Shanghai and Shenzhen also added 0.52% and 0.35% respectively.Meanwhile, HSI dipped 183 points to 26,957 at 11:00 AM IST.Mainland China and South Korea were closed for holidays, and most Southeast Asian markets were higher.In the US, Wall Street kept hitting records as excitement over artificial intelligence boosted investor sentiment. The S&P 500 rose 0.4% to 6,740.28, the Dow added 0.1% to 46,694.97, and the Nasdaq climbed 0.7% to 22,941.67.Advanced Micro Devices (AMD) surged 23.7% after announcing a deal with OpenAI, which could give the AI firm up to 160 million AMD shares if certain targets are met. Nvidia, which invested $100 billion in OpenAI last month, slipped 1.1% after the announcement.In banking, Comerica jumped 13.7% after Fifth Third Bancorp agreed to acquire it in an all-stock deal worth $10.9 billion, creating the US’s ninth-largest bank. Fifth Third’s shares fell 1.4%. Tesla rose 5.4% after hints of a product unveiling, while Verizon fell 5.1% following a CEO change.Elsewhere, US 10-year Treasury yields rose to 4.16%, while crude prices edged up. US oil added 19 cents to $61.88 a barrel, Brent rose 20 cents to $65.67, and the US dollar gained slightly to 150.42 yen. The euro slipped to $1.1705.