Tokyo recovers some losses to lead markets higher

Hong Kong: Tokyo led most markets higher Tuesday as a weaker yen boosted exporters and helped traders recover some of their hefty losses in the previo...

Hong Kong: Tokyo led most markets higher Tuesday as a weaker yen boosted exporters and helped traders recover some of their hefty losses in the previous day's rout.

With Hong Kong and mainland Chinese bourses closed for a holiday after thundering higher over the past week on a raft of economic stimulus out of Beijing, focus was on Japan following the wipeout fanned by a strong yen.

The currency soared after Japan's Shigeru Ishiba -- who has backed the central bank's interest rate hikes -- won a vote Friday to lead the country's ruling party.

On Tuesday, the Nikkei climbed almost two percent, paring some of Monday's nearly five-percent drop, as the yen pulled back against the dollar and gave beaten-down exporters some much needed relief.

Data showing Japanese business confidence remained positive in the third quarter also provided a little support.