Hong Kong — Asian stock markets extended gains on Tuesday on increased optimism about stimulus packages and global economic recovery, while retail investors retreated from GameStop and their newfound interest in silver.

MSCI’s gauge of Asia Pacific stocks outside Japan was up 1.25% midmorning, building on Monday’s rise. Hong Kong’s Hang Seng index and China’s benchmark CSI300 index opened 1.7% and 0.33% higher, respectively. Japan’s Nikkei 225 gained 0.67%...

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