In Tokyo, Japan, the Nikkei stock average increased by 6% on Tuesday, bouncing back from a recent low thanks to a surge in U.S. technology stocks. By 0020 GMT, the Nikkei index was up 5.9% at 32,959.59, while the broader Topix index rose by 6.14% to 2,428.64.

The S&P 500 and Dow Jones closed down, but the Nasdaq, which is technology-focused, saw slight gains after a volatile trading day. Concerns about a potential economic slowdown and increasing inflation persisted as U.S. President Donald Trump remained firm on tariffs and hinted at raising levies on China.

In Japan, companies like Tokyo Electron and Advantest, which produce chip-making and testing equipment respectively, saw significant increases in their stock prices. Bank shares also performed well, with Mitsubishi UFJ Financial Group and Mizuho Financial Group both experiencing notable surges.

All 33 industry sub-indexes on the Tokyo Stock Exchange recorded gains, with the banking sector leading the pack with an 11% increase in value.