Asia stock markets, China trade, India trade, Apple iPhone launch

Asia-Pacific markets were higher on Tuesday, following gains on Wall Street that saw both the S&P 500 and Nasdaq Composite rebound from their worst week of the year.

The S&P 500 gained 1.16%, after posting its worst week since March 2023. The Nasdaq Composite also jumped 1.16% following its worst week in more than two years.

Traders in Asia will monitor August trade data from China and India. China’s exports and imports for August are expected to grow by 6.5% year-on-year and 2.0%, respectively, according to a Reuters poll, in what would be the slowest pace in four months.

Apple just wrapped up an event at its headquarters in Cupertino, California, where it unveiled the iPhone 16 Pro and the iPhone 16 Pro Max, which join the iPhone 16 and iPhone 16 Plus the company announced earlier. These are Apple’s more premium phones that have nicer screens and cameras than the regular models.

Preorders for the new iPhones begin Friday and launch on Sept. 20.

Australia’s S&P/ASX 200 added 0.69%.

Japan’s Nikkei 225 advanced 0.52% and the broad-based Topix moved 0.65% higher.

South Korea’s Kospi index was up 0.17% and the small-cap Kosdaq also rose 0.18%.

Hong Kong Hang Seng index futures were at 17,216, higher than the HSI’s last close of 17,196.96.

Overnight in the U.S., the Dow Jones Industrial Average tracked the rise in the S&P and Nasdaq, ending 1.2% higher after the 30-stock index lost more than 1,200 points last week.

—CNBC’s Pia Singh and Lisa Kailai Han contributed to this report.