Japanese and Australian shares reversed earlier losses to end higher, shrugging off a slump in global equity markets, as investors sought out beaten-up sectors such as real estate and headed into mining and resource shares such as Santos Ltd. after crude oil hit $135 a barrel.
In Tokyo, oil refiners rose, helping lift the benchmark Nikkei 225 index 52.16 points, or 0.37 per cent, to 13,978.46.
Nippon Oil Corp., Japan's largest oil refiner, rose 5.3 per cent. Nippon Mining Holdings Inc., Japan's top copper producer, climbed 4.2 per cent. Japan's financial giant, Mizuho Financial Group., rose 2.9 per cent.
Troubled Sanyo Electric Co. lost 4.9 per cent despite earnings results showing a profit in the fiscal year through March - the company's first positive performance in four years. The company announced the results before the market closed.
Hong Kong's Hang Seng Index fell 417.17 points, or 1.6 per cent, to 25,043.12.
Among blue-chip developers, Sino Land fell 4 per cent, while Hang Lung Properties lost 3.7 per cent. Sun Hung Kai Properties shed 2.2 per cent.
China's main index in Shanghai sank 1.7 per cent to 3,485.63.
Elsewhere:
Australia's benchmark index inched up 0.1 per cent to 5,826.9.
South Korea's Kospi slid 0.7 per cent to 1,835.42.
Taiwan's Weighted Price index shed 0.1%.
Singapore's Straits Times Index was down 1.1%.
Malaysia's KLSE Composite fell 0.3%.
India's Sensex was down 2%.
Indonesia's Jakarta Composite climbed 0.4%.
with files from other wire services
