Asian markets back to life
Sluggish Asia-Pacific markets revived on Tuesday led by a rebound in Shanghai, with Sydney also boosted by a central bank decision to keep interest rates unchanged.
Shanghai's Composite Index closed up 1.92 percent after closing at a 15-month low the day before, with banks and property developers rising on bargain-hunting, dealers said. The index was up 45.48 points at 2,409.42.
Japan's Nikkei Index closed up 0.77 percent, or 71.26 points, at 9,338.04, recovering from a seven-month intra-day low thanks to bargain buying and helped by positive news from Shanghai. The Topix index of first-section shares jumped 1.24 percent.
Hong Kong closed up 1.22 percent led by mainland blue chips such as Citic Pacific (up 4.47 percent), China Resources Land (3.48 percent) and Chalco (4.90 percent) and snapping a four-day losing streak.
Sydney's S&P/ASX200 index closed up 1.28 percent, or 54.0 points, at 4,276.1, tracking Shanghai .
Singapore's Straits Times Index closed up 0.84 percent, or 24.00 points, at 2,868.02, with food and beverage maker Fraser and Neave gaining 20 Singaporean cents and oil rig maker Keppel Corp 13 cents.
Manila closed up 0.72 percent, lifted by a lower-than-expected figure for year-on-year inflation in June of 3.9 percent, the lowest level in seven months. The composite index gained 23.97 points to close at 3,335.71 points.
Seoul closed 0.57 percent higher, with the benchmark KOSPI gaining 9.57 points to reach 1,684.94.
Taipei rose 1.46 percent, or 108.52 points, to 7,548.48.
Jakarta rose 1.16 percent, or 33.34 points, to 2,910.64.
Gas distributor Perusahaan Gas Negara jumped 3.2 percent to 4,000 rupiah and Bank Negara Indonesia gained 3.2 percent to 2,400 rupiah.
Kuala Lumpur closed up 0.58 percent, or 7.58 points, at 1,307.08.
Bangkok closed up 1.43 percent, or 11.49 points, at 815.52.
Mumbai rose 0.99 percent, snapping three days of losses, on improved global markets and reports of advancement of the monsoon across the country, raising hopes for higher crop output. The benchmark 30-share Sensex index closed up 173.04 points at 17,614.48.
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