Investing.com – Asian stock markets were broadly higher on Tuesday, as investors entered the market for bargain hunting following the previous day’s steep decline, while reports that China might purchase Italian bonds helped lift sentiment.
During late Asian trade, Australia’s ASX/200 Index rose 0.84%, Japan’s Nikkei 225 Index climbed 0.98%, while Hong Kong's Hang Seng Index remained closed for a public holiday.
The Financial Times reported Monday that Italy’s government was in talks with China about “significant” purchases of Italian bonds and investments in local companies.
Shares in Japanese exporters with high exposure to Europe performed strongly, with digital camera maker Canon gaining 0.9%, while automakers Honda and Nissan jumped 1.3% and 1.55% respectively.
Shares in the beaten-down financial sector also contributed to gains, recouping some of the previous day’s losses. Japan’s largest lender Mitsubishi UFJ Financial Group saw shares climb 2.5%, while Sumitomo Mitsui Financial Group added 1.2%.
Shares in the technology sector advanced, tracking strong gains from their Wall Street counterparts. Semiconductor manufacturer Elpida Memory saw shares rally 12.75%, while Renesas Electronics shares jumped 5.1%.
On the downside, video-game maker Nintendo saw shares drop 4.2% after a number of brokerage firms downgraded the stock.
In Australia, shares in raw material producers led gains after crude oil and metal prices advanced on the New York Mercantile Exchange, boosting earnings prospects for miners and energy explorers.
Mining giants BHP Billiton and Rio Tinto climbed 2.3% and 1.15% respectively, while shares in oil producer Santos gained 2.75%.
Elsewhere, the outlook for European stock markets was higher ahead of a closely-watched Italian bond auction later in the day.
The EURO STOXX 50 futures pointed to a gain of 1.9%, France’s CAC 40 futures rose 1.8%, the FTSE 100 futures advanced 1.45%, while Germany's DAX futures indicated a strong gain of 2.1%.
Later in the day, the U.S. was to release official data on import prices, as well as a report on the federal budget balance.
During late Asian trade, Australia’s ASX/200 Index rose 0.84%, Japan’s Nikkei 225 Index climbed 0.98%, while Hong Kong's Hang Seng Index remained closed for a public holiday.
The Financial Times reported Monday that Italy’s government was in talks with China about “significant” purchases of Italian bonds and investments in local companies.
Shares in Japanese exporters with high exposure to Europe performed strongly, with digital camera maker Canon gaining 0.9%, while automakers Honda and Nissan jumped 1.3% and 1.55% respectively.
Shares in the beaten-down financial sector also contributed to gains, recouping some of the previous day’s losses. Japan’s largest lender Mitsubishi UFJ Financial Group saw shares climb 2.5%, while Sumitomo Mitsui Financial Group added 1.2%.
Shares in the technology sector advanced, tracking strong gains from their Wall Street counterparts. Semiconductor manufacturer Elpida Memory saw shares rally 12.75%, while Renesas Electronics shares jumped 5.1%.
On the downside, video-game maker Nintendo saw shares drop 4.2% after a number of brokerage firms downgraded the stock.
In Australia, shares in raw material producers led gains after crude oil and metal prices advanced on the New York Mercantile Exchange, boosting earnings prospects for miners and energy explorers.
Mining giants BHP Billiton and Rio Tinto climbed 2.3% and 1.15% respectively, while shares in oil producer Santos gained 2.75%.
Elsewhere, the outlook for European stock markets was higher ahead of a closely-watched Italian bond auction later in the day.
The EURO STOXX 50 futures pointed to a gain of 1.9%, France’s CAC 40 futures rose 1.8%, the FTSE 100 futures advanced 1.45%, while Germany's DAX futures indicated a strong gain of 2.1%.
Later in the day, the U.S. was to release official data on import prices, as well as a report on the federal budget balance.