Asia Mostly Advances

Stocks in Asia were mostly higher on Tuesday as investors watched developments such as the renewed conflict in key oil producing nation Libya.

The Nikkei 225 recovered 40.94 points, or 0.2%, 21,802.59, as shares of index heavyweight Fanuc gained 2.3%

The Japanese yen traded at 111.31 against the U.S. dollar after touching an earlier low of 111.57

In Hong Kong, the Hang Seng Index gained 80.34 points, or 0.3%, to 30,157.99, as shares of Chinese tech giant Tencent gained more than 0.5%.

In Australia, Crown Resorts shares Down Under surged 19.7% on news that the Australian casino operator is in talks with Las Vegas-based Wynn Resorts for a potential $7.1-billion buyout.

Oil stocks in Australia gained amid the rise in crude prices, as Santos jumped 2.9% and Beach Energy surged 5.5%

The moves in oil prices came amid a recent resurgence in conflict in Libya, a key oil producer in the Organization of the Petroleum Exporting Countries.

The Australian dollar was at $0.7143 U.S. after bouncing from lows below $0.711 yesterday.

In other markets

The CSI 300 in China added 18.2 points, or 0.5%, to 4,075.43

In Singapore, the Straits Times Index regained 10.18 points, or 0.3%, to 3,325.60

Korea’s Kospi Index moved ahead 2.96 points, or 0.1%, to 2,213.56

The Taiex Index in Taiwan hiked 51.03 points, or 0.5%, to 10,851.60

In New Zealand, the NZX 50 backpedaled 19.77 points, or 0.2%, to 9,787.30

In Australia, the ASX 200 poked up 0.46 points to 6,221.82