Asian Stocks Close Higher; Nikkei Up 14%

Updated from 12:29 a.m. EDT

Stocks in Japan posted their biggest one-day gains on record and other markets in Asia closed higher Tuesday after stocks on Wall Street soared in trading on Monday.

Japan's Nikkei 225 stock average closed up 1171.14 points, or 14.2%, to 9447.57, after governments worldwide on Monday moved to shore up their banks. The Japanese market was closed Monday for a holiday.

In Hong Kong, the Hang Seng index rose 3.2%, while the S&P/ASX 200 index in Australia finished up by 3.7%. The Australian government announced a stimulus package Tuesday to strengthen the economy. ...