Samsung Electronics stock hits new high in Asian markets as the electronics market continues to recover

Electronics stocks were up slightly on Tuesday in Asian trading as markets recover from the global economic crisis.

Apple Inc. soared to a record high of $104.87 after reports it will expand its iPhone production to Mexico, while China’s Xiaomi Electronics jumped 2.3% after the company’s CEO, Lei Jun, announced that the company would expand its manufacturing capacity to Mexico.

The Nikkei 225 index of Asian shares rose 3.4% on Tuesday after the stock closed up 2.1% in late trading.

Apple and Xiaomi are two of the best-performing stocks in the sector, and the companies were among the top performers in the benchmark China-based stock index.

The Shanghai Composite Index climbed 3.3%, while the Hang Seng Index rose 2.9% and the Shanghai Cooperation Organization Index rose 3%.

The Nikkor 500 fell 2.2%, while its index of industrial and technology shares also dropped.