Japan stocks close higher

Japanese stocks closed higher on Tuesday, led by gains in bank stocks, following a deal by peer First Citizens BancShares to acquire the assets of failed U.S. lender Silicon Valley Bank, which eased concerns over the global financial system.

The Nikkei edged up by 0.15% to close at 27,518.25, while the broader Topix ended 0.25% higher at 1,966.67. The bank index rose 1.96%, with Resona Holdings jumping 4.08% to become the top gainer on the Nikkei.

Meanwhile, chip-related shares weighed on the Nikkei, with Tokyo Electron, Advantest, and Shin-Etsu Chemical all losing ground. The railway sector also lost 0.43%, with the Central Japan Railway, which operates the bullet train between Tokyo and Osaka, losing 1.38%.