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Japan's Nikkei leads Asian markets | |
(about 5 hours later) | |
The Nikkei led Asian markets on Tuesday after closing down on Monday on news of a recession in Japan. | |
Japan's Nikkei 225 closed up 2.2% at 17,344.06, after suffering its biggest one-day drop since August on Monday. | |
Reports of Japanese Prime Minister Shinzo Abe calling a snap election in December and delaying a rise in the sale tax gained momentum. | |
The yen traded at 116.51 yen to the dollar after hitting a seven-year low of 117.06 on Monday. | |
Confidence was also boosted by comments on Monday from European Central Bank (ECB) president Mario Draghi, who said the ECB was ready to provide more stimulus. | |
Shares in Hong Kong's Hang Seng index fell 0.9% to 23,583.98 after data showed that average new home prices in China's 70 major cities fell 2.6% in October from a year earlier. | |
On the mainland, the Shanghai Composite was down 0.7% at 2,457.39. | |
In Australia, shares hit a three-week low as falling iron ore prices hit mining stocks. | |
The benchmark S&P/ASX 200 index closed down 0.2% at 5,399.7, extending Monday's near-1% fall. | |
Iron ore miner BC Iron led the losers, down more than 10%, while Fortescue Metal dropped more than 6%. | |
South Korean shares ended a three-day losing streak by closing up 1.2%, with the Kospi at 1,967.01 points. |