DHAKA: Shares in Asia were higher on Tuesday following a rally Europe and a 7% rise for Tokyo on Monday.

After initially falling 1% in early trade, the Nikkei 225 closed up 0.2% at 16,054.43 points, reports the BBC.

Analysts said the early morning falls were due to investors taking profits after the steep rises a day earlier.

Shares in Japanese telecoms giant Softbank Group rose nearly 16% after it announced a new share buyback.

The firm announced its biggest share buyback to date late on Monday in an attempt to shore up investor sentiment following a sharp fall in its latest quarterly profits.

In China, markets rose despite disappointing official trade numbers released on Monday.

The Shanghai Composite closed at a three-week high, up 3.3% to 2,836 points, while Hong Kong’s Hang Seng index was up 1% to 19,103 points in afternoon trade.

Monday’s comments from the head of China’s central bank, Zhou Xiaochuan, aimed at easing concerns about falls in the country’s currency reserves, helped the onshore yuan in its biggest daily rise since 2005 when the country dropped an official peg to the dollar.

The onshore yuan is traded only in China. The offshore yuan is free of Beijing’s control.

BDST: 1427 HRS, FEB 16, 2016
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