The Nikkei Average widens opening gains to 1.7%, and the Topix index also rises 1.5%. The dollar is buying ¥102.06, up from ¥101.86 in the previous session.
Telecom and tech stocks rebound, as heavyweight SoftBank climbs 6.8%, and Yahoo Japan pushes higher by 4.1%.
Property developers also lead the rally. Tokyo Tatemono Co. jumps 3%, both Mitsui Fudosan and Heiwa Real Estate gain 2.8%, and Sumitomo Realty & Development adds 2.5%.
Steel shares extend gains from the previous day, as Misshin Steel tacks on 3.3%, Pacific Metals moves up 1.4%, and Kobe Steel trades higher by 1.2%.
In Australia, the S&P/ASX 200 is up 0.3%, while the Australian dollar retreats to 93.36 U.S. cents from 93.56 U.S. cents on Monday.
Financial stocks continue to rebound, as top investment bank Macquarie Group moves higher by 0.7%, Westpac Banking Corp. is up 0.6%, and both National Australia Bank and Australia and New Zealand Banking Group edge up 0.3%.
However, mining shares retreat amid worries about slower growth for China, which is Australia’s major trading partner.
Newcrest Mining declines 2.1%, Alumina falls 1.5%, Fortescue Metals Group loses 1%, and Rio Tinto, one of the world’s largest iron-ore producers, gives up 0.5%.