Asian markets mostly rise after Wall Street extends its winning streak to longest of the year

Asian stocks mostly rose Tuesday after Wall Street pushed closer to record highs following its roller coaster of a summer.

In Tokyo, the Nikkei 225 stock index was up 2.1% to 38,156.41, recovering losses after a 1.8% drop the previous day. The yen briefly approached 145 against the U.S. dollar on Monday but then pulled back and traded at 146.94 on Tuesday.

China held its benchmark lending rates unchanged on Tuesday, with the one-year loan prime rate at 3.35% and the five-year LPR...