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Asian markets follow Wall Street higher ahead of earnings reports

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Asian stocks followed Wall Street higher on Tuesday ahead of U.S. earnings reports that are expected to show strong profits for major banks.

The Shanghai Composite Index SHCOMP, +0.24% rose 0.2% and the Nikkei 225 NIK, +0.61% in Tokyo gained 0.8%. The Hang Seng HSI, +1.86% in Hong Kong added 1.9%.

Stocks in New Zealand NZ50GR, +0.07%, Taiwan Y9999, +0.40% and Singapore STI, +0.66% gained while Jakarta JAKIDX, -0.13% retreated.Overnight, Wall Street’s benchmark S&P 500 index rose 0.3% to a new high, led by banks, communications and consumer-oriented stocks.

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