Asian markets advanced Wednesday as solid cues from Wall Street helped investors look past Europe-related worries, with Hong Kong stocks getting a lift from a clutch of better-than-expected earnings reports.
In Japan, the Nikkei 225 index recovered 22.17 points, or 0.2%, to 12,493.79
In Hong Kong, the Hang Seng index gained 153.74 points, or 0.7%, to 22,464.82
In Hong Kong, shares of Bank of China climbed 2% after posting a 12% increase in 2012 profits, while Agricultural Bank of China Ltd. gained 0.5% after also reporting earnings.
The stocks climbed even as profit growth at both lenders was the slowest since they listed their shares.
Results also lifted a few other stocks. Jiangxi Copper Co. rose 0.7% and Air China Ltd. gained 4.2%, although Evergande Real Estate Group Ltd. slumped 7.5% after a 19% drop in profits.
Japanese exporters and financials also advanced, meanwhile, following strong cues from the U.S. market.
Honda Motor Co. gained 0.6%, Sony Corp. added 1.3% and Mitsubishi UFJ Financial Group Inc. climbed 1.4%.
In the retail sector, shares of shopping mall operator Aeon Co. jumped 6.3% after a Nikkei newspaper report it plans to turn supermarket chain Daiei Inc. into a subsidiary, by acquiring a 24% holding on top of the stake it already holds in Daiei. Daiei shares tumbled 9.8%.
Sharp Corp. lost 4.1%, after a deadline to wrap up a new funding deal with Hon Hai Precision Industry Co. passed without an agreement.
South Korean exporters were mixed, with autos gaining but technology firms seeing some weakness.
Kia Motors Corp. climbed 2.2% but Samsung Electronics Co. fell 0.3%. The drop in Samsung shares came despite reports of strong pre-orders for the Galaxy S4 smartphone in the first 10 days since it was unveiled.
In Australian trading, the mining sector led the way higher, with iron-ore extractor Fortescue Metals Group Ltd. jumping 4.5% after JP Morgan upgraded the firm to overweight from neutral.
Qantas Airways Ltd. rose 2.3% after the firm received approval from the Australian government for a five-year tie-up with Emirates.
In other markets;
The Shanghai CSI 300 Composite 300 index gathered 8.48 points, or 0.3%, to 2,583.53
In Korea, the Kospi Index inched up 9.74 points, or 0.5%, to 1,993.44
In Taiwan, the Taiex Index added 37.76 points, or 0.5%, to 7,894.12
The Singapore Straits Times Index gained 24.50 points, or 0.8%, to 3,313.03
In New Zealand, the NZX 50 index improved 66.03 points, or 1.5%, to 4,412.06
In Australia, the S&P/ASX gained 44.05 points, or 0.9%, to 4,994.99
