Japan's Nikkei extended gains on Tuesday, tracking Wall Street on hopes that U.S.-Chinese talks in Beijing would reduce trade tensions, with a weaker yen lifting exporters.
The Nikkei share average rose 0.8 percent to 20,199.79 at the midday break, comfortably sitting above the psychologically important line of 20,000.
Fears of a global slowdown have led to a sharp pullback in markets over the last two weeks, sending the Nikkei as low as 18948.58 on Dec. 26, its lowest since April 2017.
Olympus Corp jumped 7.6 percent after Morgan Stanley upgraded the stock’s rating to ‘overweight’ from ‘equal-weight,’ citing expectations for earnings growth from new products in the mainstay GI endoscope segment, while UBS Securities also raised its rating to ‘buy’ from ‘neutral.’
The broader Topix rose 0.5 percent to 1,520.08.