TOKYO — Asian stocks were mostly higher Tuesday as markets calmed from initial jitters over Greece’s election result, with Tokyo shares making a significant rebound, cheered by the cheap yen.
KEEPING SCORE: Japan’s Nikkei 225 stock average jumped 1.3 percent to 17,696.95 and South Korea’s Kospi added 0.4 percent to 1,944.08. Australia’s S&P/ASX 200 rose 0.5 percent to 5,528.20. Hong Kong’s Hang Seng lost 0.5 percent to 24,784.95. Southeast Asian markets were also mostly higher.
GREEVE FACTOR: Asian markets were the first to weigh the meaning of Sunday’s election victory by Greece’s Syriza party, which has vowed to end painful austerity policies that are a condition of the country’s EU-IMF-ECB bailout. But European and U.S. stocks rose later in the global day, as concerns of a disastrous confrontation in which, say, Greece might stop repaying its loans or the eurozone stop funding Athens, eased after both sides said they were open to negotiation
YURI KAGEYAMA, AP Business Writer.