Asian equities advanced on Tuesday, as the morale of investors got a boost from the overnight rally on Wall Street.
However, markets in China fell short of broader advances across the region amid jitters surrounding a crackdown on illegal futures trading and ongoing anti-corruption investigations into companies such as Dongfeng Motor Group.
According to state-owned Xinhua news agency, the manager of Zexi Investment, Xu Xiang, was detained by police on Sunday. Xu, one of China's largest private money managers, is being investigated on charges of suspected insider trading.
Meanwhile, the President of Agricultural Bank of China, Zhang Yun, was taken away to assist authorities with an investigation, the Financial Times reported Monday, citing local media reports from Sina Finance and QQ Finance.
The latest developments come as Beijing intensified a probe on alleged market manipulation following a dramatic meltdown in its equity markets earlier in June and July.
In other news, the Communist Party's anti-graft regulator said Monday it is investigating Zhu Fushou, the president of Dongfeng Motor Group —China's second-biggest automaker by sales— for "suspected severe violation of discipline". Discipline violations generally refer to corruption.
Major U.S. averages each climbed nearly 1 percent or more overnight, helped by gains in energy and healthcare counters.
The Nasdaq Composite led advances with a rise of 1.5 percent, while the Nasdaq 100 finished at its highest level in more than 15 years. the Dow Jones Industrial Average closed up 0.9 percent. The S&P 500 gained more than 1 percent to top 2,100 points. The last time the index crossed 2,100 in intraday trade was August 18, and its last close above that level was on August 17.