Asia markets climb on strong Japan-led gains

January 13, 2026 (MLN):  Asia markets moved broadly higher on Tuesday, with investors largely brushing aside geopolitical tensions in Iran and Venezuela, as well as headlines surrounding a criminal investigation into U.S. Federal Reserve Chair Jerome Powell.

Japanese stocks outperformed the region after markets reopened from a holiday. The Nikkei 225 surged 3.4%, while the broader Topix index climbed 2.13%, according to CNBC.  

Major Japanese stocks led the advance, with SoftBank Group jumping as much as 5%. Semiconductor-related heavyweights also saw strong buying interest, as Advantest and Tokyo Electron rallied 8.99% and 8.31%, respectively.

In the bond market, Japanese government bond yields rose sharply. The 10-year yield climbed more than 5 basis points to 2.15%, while the 20-year yield surged over 8 basis points to 3.137%.

Meanwhile, the Japanese yen weakened slightly, slipping to a one-year low of 158.25 against the U.S. dollar.

Elsewhere in Asia, South Korea’s Kospi index gained 0.62%, while the tech-heavy Kosdaq edged down 0.30%. Australian equities also advanced, with the S&P/ASX 200 rising 0.68%.

Hong Kong stocks posted solid gains, as the Hang Seng Index added 1.25%, while mainland China’s CSI 300 was flat at the open.

Shares of GigaDevice Semiconductor soared nearly 50% in their Hong Kong trading debut after the Chinese chipmaker raised HK$4.68bn (around $600m) in an initial public offering priced at HK$162 per share.

Energy markets remained in focus as traders monitored ongoing protests in Iran and escalating rhetoric from Washington. U.S. President Donald Trump said in a Truth Social post that any country conducting business with Iran would face a 25% tariff on all trade with the United States, with the measure taking immediate effect.

U.S. equity futures were largely flat during Asian hours as investors awaited key U.S. consumer inflation data and upcoming earnings reports from major banks.

Overnight on Wall Street, U.S. stocks rebounded from earlier lows and finished at record levels.

The S&P 500 rose 0.16% to close at 6,977.27, while the Dow Jones Industrial Average added 86.13 points, or 0.17%, to settle at 49,590.20.

Both benchmarks notched fresh intraday and closing highs. The Nasdaq Composite also advanced, gaining 0.26% to end at 23,733.90.

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