Investing.com – Asian stock markets were broadly higher on Tuesday, as renewed optimism European leaders will increase efforts to resolve the region’s ongoing debt crisis and speculation of near-term monetary easing in China boosted appetite for riskier assets.
During late Asian trade, Hong Kong's Hang Seng Index climbed 1% Australia’s S&P/ASX200 rallied 1.15%, while Japan’s Nikkei 225 Index returned from a three-day weekend to trade 0.4% higher.
Following a meeting with French President Nicolas Sarkozy in Berlin on Monday, German Chancellor Angela Merkel said she was optimistic that the European Union will be able to sign off its fiscal pact by the end of January or early February.
Japanese investment bank heavyweights Nomura Holdings and Daiwa Securities, which both have large exposure to European sovereign debt, jumped 2.45% and 0.85% respectively, while the nation’s third largest lender Mizuho Financial Group rose 0.95%.
Shares in scandal-hit Olympus soared 19.95% after the Nikkei Business Daily reported that the company was likely to maintain its listing on the Tokyo Stock Exchange.
Reports also said the company has filed lawsuits against 19 current and former executives, seeking billions in compensation in the wake of an accounting cover-up scandal. The stock is still trading at about half its value prior to the scandal.
Elsewhere, in Hong Kong, shares in lenders and insurers led gains, as investors continued to cheer Premier Wen Jiabao's promise over the weekend to boost lending to business that have been battered by weak global demand.
The nation’s largest lender Industrial and Commercial Bank of China saw shares gain 2.1%, China Construction Bank rose 1.65%, while life insurer Ping An saw shares rally 3.65%,
Meanwhile, in Australia, shares in aluminum producers performed strongly after U.S. counterpart Alcoa posted a higher-than-expected fourth-quarter revenue and said it expects aluminum demand to grow 7% in 2012.
Alcoa associate Alumina saw shares surge 6.85%, while mining giants BHP Billiton and Rio Tinto advanced 1.3% and 1.7% respectively.
Looking ahead, the outlook for European stock markets was upbeat as markets eyed a meeting between German Chancellor Angela Merkel and International Monetary Fund President Christine Lagarde later in the day to discuss Greece’s bailout.
The EURO STOXX 50 futures pointed to a strong gain of 1%, France’s CAC 40 futures rose 0.65%, London’s FTSE 100 futures jumped 0.9%, while Germany's DAX futures pointed to a 0.95% increase.
Later in the day, the U.S. was to release data on economic optimism.
During late Asian trade, Hong Kong's Hang Seng Index climbed 1% Australia’s S&P/ASX200 rallied 1.15%, while Japan’s Nikkei 225 Index returned from a three-day weekend to trade 0.4% higher.
Following a meeting with French President Nicolas Sarkozy in Berlin on Monday, German Chancellor Angela Merkel said she was optimistic that the European Union will be able to sign off its fiscal pact by the end of January or early February.
Japanese investment bank heavyweights Nomura Holdings and Daiwa Securities, which both have large exposure to European sovereign debt, jumped 2.45% and 0.85% respectively, while the nation’s third largest lender Mizuho Financial Group rose 0.95%.
Shares in scandal-hit Olympus soared 19.95% after the Nikkei Business Daily reported that the company was likely to maintain its listing on the Tokyo Stock Exchange.
Reports also said the company has filed lawsuits against 19 current and former executives, seeking billions in compensation in the wake of an accounting cover-up scandal. The stock is still trading at about half its value prior to the scandal.
Elsewhere, in Hong Kong, shares in lenders and insurers led gains, as investors continued to cheer Premier Wen Jiabao's promise over the weekend to boost lending to business that have been battered by weak global demand.
The nation’s largest lender Industrial and Commercial Bank of China saw shares gain 2.1%, China Construction Bank rose 1.65%, while life insurer Ping An saw shares rally 3.65%,
Meanwhile, in Australia, shares in aluminum producers performed strongly after U.S. counterpart Alcoa posted a higher-than-expected fourth-quarter revenue and said it expects aluminum demand to grow 7% in 2012.
Alcoa associate Alumina saw shares surge 6.85%, while mining giants BHP Billiton and Rio Tinto advanced 1.3% and 1.7% respectively.
Looking ahead, the outlook for European stock markets was upbeat as markets eyed a meeting between German Chancellor Angela Merkel and International Monetary Fund President Christine Lagarde later in the day to discuss Greece’s bailout.
The EURO STOXX 50 futures pointed to a strong gain of 1%, France’s CAC 40 futures rose 0.65%, London’s FTSE 100 futures jumped 0.9%, while Germany's DAX futures pointed to a 0.95% increase.
Later in the day, the U.S. was to release data on economic optimism.