Investing.com - Asian stocks advanced Tuesday, bouncing back from session losses suffered last week as exporters got a lift from an overnight gain on Wall Street.
In mid-day Asian trade Tuesday, Hong Kong’s Hang Seng Index picked up 0.45% to 19,486.90, Japan’s Nikkei 225 Index rose 0.6% 8,674.41, Australia’s S&P/ASX 200 gained 1.3% to 4,135.60, and South Korea’s Kospi Index added 1.1% to 1,749.41.
Along with the Nikkei, the broader-based Topix Index of all issues listed on the first section of the Tokyo Stock Exchange advanced 0.67% to 747.84.
In the Monday U.S. session, the Dow Jones Industrial Average closed up 0.34%, to 10,854, the Nasdaq Composite Index rose 0.15% to 2,345.38, and the S&P 500 eased up 0.03% to 1,123.82.
Earlier Monday the Federal Reserve Bank of Chicago reported that its national activity index had risen to minus 0.06 in July from minus 0.38 the previous month. Forecasts were for the Chicago Fed’s index to ease to minus 0.48 in July.
The Chicago Fed National Activity Index is compiled monthly to gauge overall U.S. economic activity and is generally seen as a harbinger of wider national trends.
U.S. shares ended a three-day losing streak as investor eyes turned to the Federal Reserve Bank meeting later this week in Jackson Hole, Wyoming and hopes that Fed Chairman Ben Bernanke would outline further steps the central bank would take to address the faltering U.S. economy.
In Tokyo, technology and export shares led the session with NEC Corp. adding 1.4%, Toshiba Corp. gaining 1.9% and Kyocera Corp. advancing 2.31%.
Automaker Toyota Motor Corp. picked up 1.2% as it announced plans for a collaboration with Ford Motor Co. to develop hybrid systems for trucks and sport-utility vehicles.
Shares of Samsung Electronic Co. Ltd. jumped 2.5% as the South Korea fannounced a tie-up with U.S. firm Universal Display Corp. to produce mobile phone display technology.
Mining and energy firms posted gains in Sydney, with Rio TInto Ltd. rising 0.9% and Gloucester Coal Ltd. bouncing up 5.3%.
The outlook for European stocks was optimistic. France’s CAC 40 futures was higher by 0.08% to 3,033.80, Britain’s FTSE 100 futures rose 0.01% to 5,079.30, while Germany’s DAX was lifted 0.03% to 5,448.