Asian markets advanced strongly Tuesday, with Hong Kong and Mumbai notching gains of more than 6% as buyers returned in force for beaten-down financial stocks such as China Life Insurance Co. and India's ICICI Bank.
Hong Kong's benchmark Hang Seng index jumped 6.4 percent to 22,464.52 while Japan's Nikkei 225 index climbed 2.2 percent to 12,745.2.
In Tokyo, electronics and trading companies were buoyed by the recent recovery in the U.S. dollar, which was trading at 100.20 yen. Last week, it dropped below 96 yen for the first time since August 1995.
Gainers in Tokyo included Canon Inc., which rose 3.9 percent, and Itochu Corp., up 4.8 percent.
The mainland Chinese market recovered from an early drop to close nearly flat, as a rally in airlines offset a continued decline in PetroChina on views the stock is overvalued. The Shanghai Composite Index rose 0.1 percent to 3,629.62.
Elsewhere:
South Korea's Kospi gained 1.2% to 1,674.93.
Singapore's Straits Times Index added 2.5% to 3,000.19.
New Zealand's NZX 50 index gained 0.1% to 3,430.28.
Taiwan's Weighted index, which climbed during the previous five trading sessions, went against the trend to end 0.8% lower at 8,795.09, as traders locked in profits.
Mumbai's Sensitive Index, or Sensex, was the second-best performer of the day, surging 6.1% to 16,217.49.
Australia's S&P/ASX 200 climbed 3.7% to 5,318.40.
with files from other wire services
