Asia Markets: Nikkei surges to 2-month high, but other Asian markets sag

Japan was a bright spot in global markets Tuesday, coming off a holiday a day earlier, as stocks elsewhere in the Asia-Pacific region were muted.

Investors are looking ahead to meetings later this week for the Bank of Japan and Federal Reserve. Rate changes aren’t expected in either case, though the Fed is expected to detail plans on how it will trim its mammoth balance sheet.

And AxiTrader’s Greg McKenna said investors were optimistic about the Trump administration’s prospects for legislative progress, given the president’s recent shows of bipartisanship.

“There has been an absolute change in the narrative,” he added.

The Nikkei NIK, +1.45% rose 1.3%, reaching its best levels in two months and putting the index back above 20,000 for the first time since Aug.

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