Asia Markets: Tokyo leads Asian stocks higher as yen stumbles

Asian stock markets were broadly higher early Tuesday, with Japanese equities leading as solid U.S. manufacturing data helped weaken the yen.

The Nikkei Stock Average NIK, +0.83% was up 0.8%, Korea’s Kospi SEU, +0.55% rose 0.4% and Singapore’s FTSE Straits Times Index gained 0.2%. Chinese markets are shut for the week. Hong Kong’s Hang Seng Index HSI, +0.31% , however, reversed early gains and was flat.

“We’re up based on a weaker yen,” said Alex Furber, senior client services executive at CMC Markets. “We’ve had some fairly positive data on the U.S. side last night, and [some market players believe] this is a case for a rate hike.

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