Most Asian stock markets advanced Tuesday, with Japanese and Hong Kong benchmarks gaining 1 percent or more, amid signs of economic improvement in Asia and Europe.
Shares in resource companies were stronger after commodity prices rose, with oil holding near $73 a barrel. The dollar was little changed after slipping against the yen and the euro.
As investors awaited third-quarter earnings in the U.S., where chipmaker Intel and consumer products company Johnson & Johnson are due to report Tuesday, some upbeat corporate news in Europe helped gird markets. Royal Philips Electronics NV, the region’s biggest consumer electronics company, reported an unexpected surge in profits last quarter and said it was seeing improvements in earnings and sales.
On the economic front, Asia Pacific countries provided more evidence of a turnaround.
In India, industrial output rose by its biggest amount in August in nearly two years, boosting optimism that Asia’s third-biggest economy is rebounding. New Zealand reported stronger retails sale in August.
Gains across Asia marked a recovery after most markets slid on Monday.
Japan’s Nikkei 225 stock average added 92.01 points, or 0.9 percent, to 10,108.40, while Hong Kong’s Hang Seng rose 374.35 points, or 1.8 percent, to 21,673.70.
Shanghai’s benchmark was up 0.8 percent, Australia’s index gained 1.1 percent and Indonesia’s market was higher by 0.9 percent. Meanwhile, South Korea’s Kospi lost 0.1 percent and Taiwan’s market recouped early losses to gain 0.1 percent.
Also helping sentiment were slight gains on Wall Street that pushed the Dow Jones index to a new trading high for 2009.
The Dow closed up 20.86, or 0.2 percent, at 9,885.80. The Standard & Poor’s 500 index rose 4.70, or 0.4 percent, to 1,076.19. Both indexes had their highest close in a year.
The Nasdaq composite index fell 0.14, or 0.01 percent, to 2,139.14.
Oil prices lost some ground, with benchmark crude for November delivery shedding 27 cents to $73. The contract rose $1.50 overnight.
The dollar edged up to 89.97 from 89.90. The euro was unchanged at $1.4778.