Asia markets traded mixed on Tuesday, as some traders expected continued support from the optimism around President Donald Trump's economic policies, which sent global stocks higher in recent weeks.
Jonathan Pain, author of the Pain Report, told CNBC's "Squawk Box" markets were being driven by "animal spirits." (That term was used by economist John Maynard Keynes to describe how human emotion drives consumer confidence.)
"I still feel we're in that kind of first derivative, reflexive euphoria," Pain said, but he acknowledged investors are trying to grapple with the lack of details on Trump's proposed policies, such as tax reform, and also his protectionist rhetoric.
In South Korea, the Kospi index closed up 18.54 points, or 0.89 percent, to 2,102.93, after customs data showed a jump in exports in the first 20 days of February.
Exports climbed 26.2 percent on-year in dollar terms, while imports increased 26 percent, and the country posted a trade surplus of $2.19 billion, Reuters reported.
Samsung Electronics shares advanced 0.72 percent, despite the arrest of group chief Jay Y. Lee on Friday for his alleged role in a corruption scandal. Lee was questioned by authorities over the weekend, and reports suggest he will likely be indicted by next week.
Ratings agencies S&P Global Ratings, Moody's and Fitch Ratings all said the arrest was unlikely to affect the credit rating of the flagship Samsung Electronics brand.