Australia stocks dive after smaller-than-expected rate walking; Asia markets increase

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Australia stocks jump after smaller-than-expected rate hike; Asia markets rise

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Pedestrians using face masks stroll past a screen showing the Nikkei 225 index on February 25 in Tokyo, Japan.

Tomohiro Ohsumi|Getty Images

Asia-Pacific shares traded greater on Tuesday after stocks on Wall Street rallied over night.

The Nikkei 225 in Japan increased 2.96% to close at 26,99221, marking the most significant day-to-day gains given that March23 The Topix index got 3.21% to close at 1,90689 South Korea’s Kospi advanced 2.5% to close at 2,20938

MSCI’s broadest index of Asia-Pacific shares outside Japan got 1.95% In Australia, the S&P/ ASX 200 leapt 3.75% to close at 6,6993. The Reserve Bank of Australia raised its benchmark rate of interest by 25 basis points.

Markets in mainland China and Hong Kong were closed for a vacation.

The Dow Jones Industrial Average popped 765.38 points, or almost 2.7%, to close at 29,49089 The S&P 500 advanced about 2.6% to 3,67843 The Nasdaq Composite included almost 2.3% to end at 10,81543

It was the very best day given that June 24 for the Dow, and the S&P 500 ′ s the very best day given that July 27.

— CNBC’s Tanaya Macheel and Samantha Subin added to this report.