Most Asian markets advanced Tuesday as energy plays rallied after rising oil prices spurred a banner session on Wall Street.
In Japan, the Nikkei 225 moved higher 186.4 points, or 1.1%, to 16,652.80.
The U.S. dollar was fetching 109.22 yen, up from levels as low as around 108.50 yen in the previous session. A weaker Japanese currency is considered a positive for the country's exporters when they repatriate overseas earnings.
In Hong Kong, the Hang Seng index popped 234.85 points, or 1.2%, to 20,118.80
Korean markets were weighed by Posco's 2.4% drop after Reuters reported Nippon Steel will sell 1.5 million shares of the steelmaker, cutting its stake to 3.3%. Nippon Steel shares rose 3.3%.
Energy shares gained. In Australia, Woodside added 2.9% and Santos gained 6.3%. Japan's Inpex added 3.2% and South Korea's S-Oil rose 2.9%
In Australia, mining shares gained amid higher commodity prices. BHP Billiton added 3.5%, while Rio Tinto was up 1.5%
In Japan, Apple supplier Japan Display added 2.5% and in South Korea, Samsung Electronics, which is both an Apple supplier and competitor, rose 1.3%. In Taiwan, Apple-related shares were mixed, with Pegatron down 0.6% and Foxconn Technology up 3.4%
Weighing on Australia's benchmark index, shares of National Australia Bank dropped 3.1% as the stock went ex-dividend. NAB paid a dividend of 99 Australian cents.
Minutes from the Reserve Bank of Australia meeting showed the committee discussed leaving rates on hold, but ultimately decided that a 25 basis-point interest rate cut to a new record low of 1.75% would allow the central bank to better aim at boosting lower-than-expected inflation. The minutes didn't provide much guidance on whether another rate cut might be on the cards.
The news pushed up the Australian dollar, which climbed as high as $0.7366 U.S. after the minutes' release, compared with around $0.7280 before the release of the minutes.
Shares of Singapore Airlines shed 1.1%, leaving the stock down more than 8% since the company reported earnings last week that missed analysts' expectations. While lower oil prices helped, yields declined more than expected.
CHINA
The CSI 300 Index faded 9.28 points, or 0.3%, to 3,086.02
China bank shares were mixed, with Bank of China's Hong Kong-listed shares were up 1.3%, while its mainland-listed ones ended flat.
On Monday, reports surfaced that China's central bank is investigating the accuracy of non-performing loans (NPLs) data at banks, specifically whether NPLs are being miscategorized, according to two sources who saw a central bank notice on the issue.
In other markets
In Korea, the Kospi Index inched higher 0.15 points to 1,968.06
In Singapore, the Straits Times Index gained 45.05 points, or 1.7%, to 2,781.11
In Taiwan, the Taiex Index added 72.88 points, or 0.9%, to 8,140.48
New Zealand’s NZX 50 regained 60.74 points, or 0.9%, to 6,974.87
The ASX 200 climbed 36.93 points, or 0.7%, to 5,395.87
