Asian markets rebounded Tuesday after a higher finish on Wall Street and better-than-expected results from Alcoa Inc. Mainland Chinese shares rose after a choppy session as investors digested data showing an increase in consumer prices.
In Japan, the Nikkei 225 recaptured 363.56 points, or 2.6%, to 14,472.90, for its highest finish in six weeks.
Hong Kong’s Hang Seng Index regained 100.82 points, or 0.5%, to 20,683.01
Alcoa began the U.S. reporting season at the end of the regular Wall Street trading session, with the aluminum major’s adjusted second-quarter earnings topping estimates.
In Hong Kong trade, shares of China Mobile Ltd. rose 0.6%, and China Resources Land Ltd. gained 1.2% to recover some recent losses.
Gains were spread across several sectors in Tokyo. Shares of Sumitomo Realty & Development Co. climbed 4.7%, utility Tokyo Electric Power Co. 6.4%, apparel retailer Fast Retailing Co. added 4.5% and telecommunications firm KDDI Corp. gained 4.1%.
Dai-ichi Life Insurance Co. advanced 2% and Tokio Marine Holdings Inc. rose 2.2% after the Nikkei newspaper reported Japanese insurers were likely to be excluded from new global capital requirements set to take effect in 2016.
Hino Motors Ltd. jumped 4.1% after a separate Nikkei report said it was expected to double its group operating profit in the quarter ended June 30.
Meanwhile, Alumina Ltd. climbed 3% in Sydney after Alcoa’s results.
Also supporting the Australian advance, Commonwealth Bank of Australia rose 1.7%, and BHP Billiton Ltd. advanced 2.1%.
CHINA
The Shanghai Shenzhen CSI 300 dropped 0.95 points, to 2,162.67
Official data released Tuesday showed June consumer prices in China rose 2.7% from the year-earlier month, while producer prices continued to deflate for the 16th straight month, dropping 2.7%.
Property developers declined in Shanghai, meanwhile, with Gemdale Corp losing 4.4%, and Poly Real Estate Group Co. falling 2.8%.
In other markets;
Taiwan’s Taiex Index prospered 84.84 points, or 1.1%, to 7,971.18
Singapore’s Straits Times Index gained back 23.16 points, or 0.7%, to 3,178.63
Korea’s Kospi Index picked up 13.50 points, or 0.7%, to 1,830.35
In New Zealand, the Exchange 50 Gross Index moved higher 30.39 points, or 0.7%, to 4,523.69
In Australia, the S&P/ASX 200 took on 72.12 points, or 1.5%, to 4,881.65
