Investing.com – Asian stocks were broadly higher on Tuesday, as shares in energy producers led markets higher, while shares in Japan were boosted by upbeat corporate earnings results.
During late Asian trade, Hong Kong's Hang Seng Index climbed 0.17%, South Korea's Kospi Composite added 0.11%, while Japan’s Nikkei 225 Index gained 0.36%.
In Hong Kong, shares in the energy sector led gains as crude oil prices hovered near a 29-month high amid fears over a disruption to supplies.
Shares in China’s largest offshore oil producer Cnooc surged 3.14%, oil and gas giant PetroChina saw shares rally 2.96%, while shares in oil major Sinopec jumped 1.48%.
In Japan, shares in the nation’s third largest automaker Honda jumped 2.01% after the company raised its full year earnings outlook by 6% to JPY530 billion. The company said that rising U.S. auto sales and Asian motorcycle demand helped offset the effects of a stronger yen.
Meanwhile, electronics manufacturer Hitachi saw shares rally 3.35% after the Nikkei Newspaper reported that the company could post an operating profit of as much as JPY100 billion yen in the third quarter.
Elsewhere, Australia’s S&P/ASX 200 Index shed 0.04% after the Reserve Bank of Australia announced earlier Tuesday that it kept its benchmark interest rate unchanged at 4.75% in February.
Meanwhile, shares in the world’s largest mining group BHP Billiton climbed 0.84%, while rival Rio Tinto saw shares add 0.32%.
The outlook for European equity markets, meanwhile, was upbeat. The EURO STOXX 50 futures pointed to a gain of 0.57%, France’s CAC 40 futures indicated an increase of 0.56%, the FTSE 100 futures pointed to a rise of 0.42%, while Germany's DAX futures were up 0.41%.
Later in the day, European Central Bank President, Jean-Claude Trichet was to speak at a public engagement while in the U.S., the Institute of Supply Management was to publish data on manufacturing growth.
During late Asian trade, Hong Kong's Hang Seng Index climbed 0.17%, South Korea's Kospi Composite added 0.11%, while Japan’s Nikkei 225 Index gained 0.36%.
In Hong Kong, shares in the energy sector led gains as crude oil prices hovered near a 29-month high amid fears over a disruption to supplies.
Shares in China’s largest offshore oil producer Cnooc surged 3.14%, oil and gas giant PetroChina saw shares rally 2.96%, while shares in oil major Sinopec jumped 1.48%.
In Japan, shares in the nation’s third largest automaker Honda jumped 2.01% after the company raised its full year earnings outlook by 6% to JPY530 billion. The company said that rising U.S. auto sales and Asian motorcycle demand helped offset the effects of a stronger yen.
Meanwhile, electronics manufacturer Hitachi saw shares rally 3.35% after the Nikkei Newspaper reported that the company could post an operating profit of as much as JPY100 billion yen in the third quarter.
Elsewhere, Australia’s S&P/ASX 200 Index shed 0.04% after the Reserve Bank of Australia announced earlier Tuesday that it kept its benchmark interest rate unchanged at 4.75% in February.
Meanwhile, shares in the world’s largest mining group BHP Billiton climbed 0.84%, while rival Rio Tinto saw shares add 0.32%.
The outlook for European equity markets, meanwhile, was upbeat. The EURO STOXX 50 futures pointed to a gain of 0.57%, France’s CAC 40 futures indicated an increase of 0.56%, the FTSE 100 futures pointed to a rise of 0.42%, while Germany's DAX futures were up 0.41%.
Later in the day, European Central Bank President, Jean-Claude Trichet was to speak at a public engagement while in the U.S., the Institute of Supply Management was to publish data on manufacturing growth.