Asian stock markets rise

Asia-Pacific markets were broadly higher on Tuesday as investors’ fears over the recent banking turmoil continued to show signs of easing. Australia’s S&P/ASX 200 rose 1.1 percent. Japan’s Nikkei 225 Topix saw a broader gain of 0.28 percent. South Korea’s Kospi rose 0.45 percent and the Kosdaq also rose marginally. Hong Kong’s Hang Seng index rose 0.4 percent and the Hang Seng Tech index added 0.35 percent, while in mainland China, the Shanghai Composite Index was down marginally and the Shenzhen Component Index lost 0.33 percent. Overnight, stocks on Wall Street in the U.S. rose, according to the U.S. Federal Deposit Insurance Corporation. Bank stocks were broadly higher as investors sought to distance themselves from the turmoil after First Citizens BancShares agreed to buy large parts of Silicon Valley Bank. The Dow Jones Industrial Average rose almost 200 points, or 0.6 percent, and the S&P 500 rose 0.2 percent. But the Nasdaq Composite finished down 0.5 percent at 11,768.84.