Stock markets in the Asia-Pacific region (APR) are mostly rising in trading on Tuesday, with the exception of China’s Shanghai Composite.

Meanwhile, the markets remain concerned about recession in the global economy. Investors fear that the efforts of the U.S. and European central banks to slow inflation, which is at a 40-year high, may become an obstacle to the growth of the global economy.

Japanese index Nikkei 225 by 8:27 Moscow time increased by 2.4%.

Among the leaders of quotes growth are shares of media company CyberAgent Inc. (+6.5%), chemical company Showa Denko K.K. (+6.4%) and mining Tokai Carbon Co. Ltd. (+5.7%).

Investment and technology SoftBank Group (TYO:9984) is up 3.3%, consumer electronics maker Sony (TYO:6758) is up 4.2%, and Asia’s largest clothing retailer Fast Retailing (TYO:9983) is up 0.3%.

China’s Shanghai Composite index was down 0.2% by 8:37 Moscow time, while Hong Kong’s Hang Seng was up 1.5%.

The Hang Seng is near its highest level in two weeks and is up for the third consecutive trading session, supported by reports that US President Joe Biden is considering lifting a number of duties on China to tackle rising inflation.

Traders also reacted optimistically to reports that Chinese real estate developer China Evergrande (HK:3333) will unveil a preliminary restructuring plan by the end of next month, in line with the original deadline.

Shares of Alibaba (NYSE:BABA) Health Information Technology Ltd. (+10.3%), Wuxi Biologics (Cayman) Inc. (+5.1%), and Country Garden Services Holdings Co. Ltd. (+4.5%).

South Korea’s Kospi index is up 1%.

The market value of automaker Hyundai Motor (KS:005380) rose 1.8%, while one of the world’s largest chip and consumer electronics makers Samsung Electronics Co. (KS:005930) gained 0.2%.

Australia’s S&P/ASX 200 rose 1.3%.

Reserve Bank of Australia Governor Philip Lowe said Tuesday he does not expect a recession in the country in the coming years. Answering questions after a speech to the business community, he said Australia’s unemployment rate is at its lowest in almost 50 years.

Shares of the world’s largest mining companies BHP Group Ltd. and Rio Tinto (LON:RIO) Ltd. strengthened 1.5% and 2.2%, respectively.