Asia markets were mostly higher on Wednesday after Wall Street surged overnight on a bounce in oil prices and positive earnings news, shrugging off the recent global rout, at least temporarily.
In Japan, the Nikkei 225 regained 455.02 points, or 2.7%, to 17,163.92
The Hang Seng index in Hong Kong recovered 191.65 points, or 1%, to 19,052.45
In Japan, Inpex tacked on 4%, but South Korea's S-Oil fell 4.3% Hong Kong-listed Cnooc boosted 3.9% and Petrochina was up 3.2% respectively.
In Australia, AWE surged 56.9% after announcing it agreed to sell its 10% interest in U.S. shale project Sugarloaf to Carrier Energy
Partners for $190 million U.S. before taxes. AWE said the proceeds would be used to repay debt, leaving the company in a net cash position.
But energy plays were largely lower, with Woodside shedding 1.6% and Santos off 2.7%.
On the upside, Australia's gold-related shares climbed, with Alacer Goldup 2.2% and Newcrest tacking on 3.2%. Gold futures hit their highest since early November in overnight trade, with futures for February delivery settling up $14.90 at $1,120.20 U.S. an ounce.
Australia's dollar also got a boost after data showed the consumer price index (CPI) rose 1.7% on-year in the fourth quarter, slightly above expectations for a 1.6% rise from a Reuters poll. But the data showed inflation remains under control, leaving the Reserve Bank of Australia space to cut rates at its next meeting.
The Australian dollar was fetching as much as $0.7041 U.S. after the data, up from around $0.6989 before the release.
Apple suppliers were in focus after Apple reported fiscal first-quarter earnings that beat analyst estimates, but came in below expectations on revenue and iPhone sales. Taiwan-listed Hon Hai was down 0.3% in volatile trade and AU Optronics shed 1%. Among Tokyo-listed Apple suppliers, Japan Display was up 2.9% and Asahi Glass added 2.3%.
In South Korea, Samsung Electronics, which both supplies and competes with Apple, rose 3.3%.
CHINA
China shares were volatile, erasing most early losses in late trade.
The CSI 300 Index fell back 10.16 points, or 0.4%, to 2,930.35.
Amid concerns about slowing economic growth and depreciation of the yuan, shares on the mainland got an additional bit of bad news Wednesday: China's industrial profits fell 4.7% on-year in December, declining for a seventh month.
On the mainland, Shanghai-listed oil powerhouse China Oilfield dropped 0.7%
In other markets
In Singapore, the Straits Times Index eked up 0.57 points to 2,546.18
The Kospi in Korea added 26.18 points, or 1.4%, to 1,897.87
Taiwan’s Taiex index gathered 21.26 points, or 0.3%, to 7,849.83
In New Zealand, the NZX 50 dropped 0.21 points to 6,141.94
In Australia, markets returned after the Australia Day holiday, with the ASX 200 index folding 60.12 points, or 1.2%, to 4,946.44
