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Asian stocks closed mixed amid Powell's testimony

Japan’s Nikkei share average rose to a three-week peak on Tuesday, boosted by Wall Street's ahead of the first testimony from new Federal Reserve Chair Jerome Powell.

Photo: Reuters

The Nikkei index gained 1.1% to 22,389.86, its top since Feb. 5.

Hong Kong's Hang Seng lost 0.7%, Chinese Shanghai Composite tumbled 1.1%, South Korean KOSPI slipped 0.1%, Australian S&P ASX 200 added 0.2%.

Fears that Fed will accelerate the pace of the base interest rate increases this year, eased noticeably, while the 10-year U.S. Treasuries yield fell to 2.864 percent.

Investors on the Chinese market continued to assessed the news about the proposed amendments to the constitution, which will allow President Xi Jinping to serve a third term in office.

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