Asian stock markets ended mostly higher Tuesday, bolstered by Wall Street's upbeat start for 2010 and strong commodity prices, while technology shares advanced on optimism for chip sales this year.
The Nikkei 225 index gained another 27.09 points, or 0.3%, on top of yesterday’s gain, to 10,681.83.
Hong Kong’s Hang Seng Index jumped 456.30 points, or 2.1%, to 22,279.58.
Higher commodities prices drove resource-related stocks higher across the region. In Sydney, Rio Tinto added 1.9%, OZ Minerals jumped 5%, and gold miner Newcrest Mining advanced 2%.
Korea Zinc rose 2.5% in a weak Seoul market, and Aluminum Corp. of China surged 9.1% in Hong Kong and 3% in Shanghai.
Among energy plays, Tokyo's Inpex rose 1.8%, and Hong Kong's Cnooc jumped 5.7%.
Technology shares were also higher after the Semiconductor Industry Association Monday said global semiconductor sales in November rose 3.7% from the previous month to $22.6 billion U.S., marking the ninth-straight month of sequential gains as global demand continued to improve.
Sales were up 8.5% from a year earlier.
Seoul-listed Samsung Electronics added 1.6%, while Nanya Technology gained 3% and Inotera Memories rose 1.9% in Taipei after Deutsche Bank upgraded the Taiwanese chip makers to "buy."
Shares of Japan's sole maker of dynamic random access memory chips, Elpida, jumped 6.6% after the Nikkei reported Rexchip Electronics, Elpida's Taiwanese subsidiary, will invest some 40 billion yen ($435 million U.S.) to introduce new chip-making equipment.
Shares of banking major Sumitomo Mitsui Financial Group gained 1.5% after it announced plans to raise up to 800 billion yen by issuing new shares, ending weeks of suspense about the size of its offer.
Trading in shares of Hutchison Telecommunications International remained suspended in Hong Kong a day after the company said its parent Hutchison Whampoa has offered to take it private.
Hutchison Whampoa shares extended gains to finish 4.1% higher.
Korean shares retraced early gains as shares of Kumho Asiana Group affiliates dropped sharply. Kumho Tire and Kumho Industrial both fell by their daily 15% limit after cash-strapped Kumho Asiana Group announced a drastic restructuring plan, raising concerns the group's liquidity problems may be more severe than expected.
Among other group affiliates, Asiana Airlines dropped 2.1% and Korea Kumho Petrochemical lost 1%. Kumho Asiana announced it would cut executive headcount by 20%, cut executive pay by 20%, put all office workers on a month's unpaid leave and planned to raise more than 1.3 trillion won ($1.13 billion U.S.) via asset sales.
Korean auto shares took a hit from the strengthening won. Hyundai Motor dropped 7.6% and Kia Motors shed 5.5%
In foreign exchange markets, the dollar was at 91.97 yen from 92.59 yen in late New York trade Monday, while the euro was at $1.4427 U.S. from $1.4412 U.S., and at 132.69 yen from 133.42 yen.
Elsewhere;
The Shanghai 300 Composite Index advanced 28.81 points, or 0.8%, to 3,564.04
Korea’s Kospi Index gave back 5.52 points, or 0.3%, to 1,690.62
Taiwan’s Taiex index tacked on 3.55 points to 8,211.40
Singapore’s Straits Times index regained 25.73 points, or 0.9%, to 2,920.28
Australia’s S&P/ASX 200 moved up 48 points, or 1%, to 4,924.30.
New Zealand’s NZX Index returned to work Tuesday by gaining 38.04 points, or 1.2%, to 3,268.19.
