adminWall Street provided strong support after the Dow and S&P 500 closed at record highs for a third straight session despite weak retail sales figures.
Tokyo rose 0,64 percent as it played catch-up with a region-wide advance on Monday. The Nikkei added 92,87 points to 14 599,12.
Sydney added 0,10 percent, or 4,9 points, to 4 986,0 and Shanghai ended 0,31 percent higher, adding 6,33 points to 2 065,72, while Hong Kong was flat, edging 9,07 points higher to 21 312,38.
But Seoul fell 0,47 percent, or 8,80 points, to 1 866,36.
Profit-taking capped most gains after Monday’s rally fuelled by Chinese economic growth data that came in line with forecasts.
However, the 7,5 percent expansion in April-June still represented a second mixed straight quarter of slower growth, highlighting weakness in the world’s number two economy.
Japanese investors took advantage of the softer yen, which began to fall against the dollar last week after Federal Reserve chief Ben Bernanke said the bank’s easy money policy would remain in place for some time.
In Tokyo forex trade the dollar, which peaked above 100 yen in early trade, eased slightly to sit at 99,76 yen late Tuesday, compared with 99,82 yen in New York late Monday.
The euro fetched US$1,3069 and 130,21 yen compared with US$1,3064 and 130,41 yen in New York.
On Wall Street the Dow rose 0,13 percent and the S&P 500 added 0,14 percent, both hitting all-time highs for a third-straight session. The Nasdaq gained 0,21 percent.
US traders brushed off figures showing retail sales in June rose just 0,4 percent, below the 0,7 percent expected by analysts. Excluding motor vehicle and parts sales, retail sales were flat.
With few new catalysts to drive action, focus will now turn to Bernanke’s testimony on the US economy and monetary policy today and tomorrow. Dealers will be hoping for more clues about the future of the Fed’s huge bond-buying scheme.
“Mr Bernanke will likely be careful not to say anything that could shock the market and reiterate that although the Fed eventually will need to cut back on its bond purchases, the timing will depend on the pace of US economic recovery,” said Naoki Fujiwara, fund manager at Shinkin Asset Management.
There will also be a two-day meeting of the Group of 20 finance ministers and central bank governors that concludes on Friday.
Oil prices fell. New York’s main contract, West Texas Intermediate for delivery in August, lost six cents in the afternoon to US$106,26, while Brent North Sea crude for August was down US$1,27 at US$107,82.
Gold fetched US$1 284,24 per ounce at 0810 GMT, compared with US$1 282,92 late on Friday. – AFP.
Online Reporter