07:10 AM EDT, 08/12/2025 (MT Newswires) -- Major Asian stock markets gained ground on Tuesday, after China and the US on Monday announced they had agreed to another 90-day tariff truce, thus forestalling a dramatic rise in import levies between the two economic behemoths.

Hong Kong, Shanghai and Tokyo finished in the green, although other regional exchanges were uneven, with Bangkok closed on holiday.

In Japan, the Nikkei 225 opened higher and rose to the close, finishing up 2.2% to strike an all-time record high.

After a three-day weekend, the benchmark Nikkei 225 rose 879.69 to 42,718.17, as gaining issues outnumbered losers 174 to 50.

Leading the upside was Mitsui Mining & Smelting, up 12.9%, while delivery-service Nippon Express fell 12.3%, with both moves following earnings reports.

In Hong Kong, the Hang Seng Index opened evenly and edged higher, finishing up 0.2% as traders awaited pending economic reports from Beijing and digested the earnings season.

The broad gauge Hang Seng rose 62.87 to 24,969.68, as gaining issues outnumbered losers 55 to 28. The Hang Seng TECH Index lost 0.4% on the day, while the Mainland Properties Index rose 1.1%.

Leading the upside was Semiconductor Manufacturing International, up 5%, while streaming-platform Kuaishou Technology declined 9.3%.

On the mainland, the Shanghai Composite rose 0.5% to 3,665.92

On the other regional exchanges, the S. Korean KOSPI fell 0.5%; the Taiwan TWSE inclined 0.1%; the Australian ASX 200 inclined 0.4%, and the Singapore Straits Times Index fell 0.2%. In late trading in Mumbai, the Sensex was down 0.5%.

In other news, citing "substantial" moderation in inflation rates since the crest in 2022, and concerns regarding global trade, the Reserve Bank of Australia on Tuesday reduced its key policy rate to 3.60% from 3.85%.