Japanese stocks rose on Tuesday as hopes for strong corporate earnings, buoyed by major automakers and electronics manufacturers.
In Japan, the Nikkei 225 recovered 274.60 points, or 1.4%, to 19,909.09.
In Hong Kong, the Hang Seng index rebounded 755.56 points, or 2.8%, to 27,859.49, its biggest daily gain in two weeks on Tuesday on signs that investors in mainland China are keen to plow more money into the city's markets, hunting for bargains.
Toyota Motor Corp and Nissan Motor Co Ltd, gained 2.2% and 2.4%, respectively, while Panasonic Corp gained 3.7%
Index heavyweight Tencent Holdings Ltd rose nearly 4%. Rating agency Standard & Poor's Ratings Services said on Tuesday that it had raised its long-term corporate credit rating on Tencent to 'A' from 'A-', to reflect the firms' improving profitability.
Among the most actively traded stocks on Hong Kong's main board were China National Culture Group, up 8.5%; Ping Shan Tea, up 1.6% and China Jinhai, down 23.4%.
CHINA
The Shanghai CSI 300 hiked 97.25 points, or 2.2%, to 4,619.16.
The official Shanghai Securities Journal reported on Tuesday that trust companies on the Chinese mainland are flooding into the Hong Kong stock market, and are facing a shortage of overseas investment quotas.
Adding to signs of more money inflows, Bosera Asset Management Co on Monday launched China's second mutual fund product that buys Hong Kong stocks under the Shanghai-Hong Kong Stock Connect scheme.
In other markets
In Singapore, the Straits Times Index recovered 5.36 points, or 0.2%, to 3,508.61
The Kospi index in Korea slid 1.92 points, or 0.1%, to 2,144.79
In Taiwan, the Taiex index shed 18.87 points, or 0.2%, to 9,533.98
In New Zealand, the NZX 50 fell 6.76 points, or 0.1%, to 5,817.52
In Australia, the S&P/ASX 200 recouped 39.23 points, or 0.7%, to 5,872.34
