Asian stocks climb up as U.S.-North Korea tensions cool off

Asian shares returned sharply higher on aggressive short-covering, as concerns faded over the U.S.-North Korea’s situation, after the president of North Korea decided to hold off the Guam attack, soothing the markets.

Though U.S. president is yet to respond to North Korea’s statements, market’s risk appetite increased, while dollar’s advance restored market confidence, specifically on Wall Street, after the exodus of nearly a trillion dollar from markets on war jitters. 

Japanese shares increased, as TOPIX gained 1.30% or 16.01 points to 1,247.39, while Nikkei 225 advanced 1.26% or 246.94 points to 19,784.04.

Chinese CSI 300 increased 0.59% or 21.63 points to 3,716.31, while Shanghai advanced 0.49% or 15.97 points to 3,253.33.

Hong Kong’s Hang Seng rose 0.29% or 77.68 points to 27,327.91, while South Korea’s KOSPI gained 0.63% or 14.51 points to 2,334.22.

New Zealand’s NZX 50 advanced 0.77%, or 60.01 points to 7,821.95, and finally Australia’s S&P/ASX 200 increased 0.72% or 41.09 points to 5,771.50.