Asian stocks posted modest gains on Tuesday, led by shares in resource companies, as strong U.S. factory data and surging commodities prices offset fears that unrest in Egypt could spread elsewhere in the Middle East.
But gains were limited amid fears that China may embark on further tightening steps ahead of the Lunar New Year holiday that starts on Wednesday and as the yen hovered near a 4-week trough against the greenback, pressuring exporters.
Japan's stocks bounced back from a one-month closing low, with oil-related shares and firms with high exposure to the U.S., such as Honda Motor, gaining on hopes for sustained recovery in that market after robust earnings.
The benchmark Nikkei ended the day up 0.4 percent, after falling 1.2 percent to a one-month closing low on Monday. The broader Topix advanced 0.4 percent to 913.52.
Seoul shares posted a mild recovery in light volume, helped by POSCO and financials.
Gains were offset by foreign selling on uncertainties over the global economic landscape such as price inflation following the turmoil in Egypt.
The Korea Composite Stock Price Index (KOSPI) ended up 0.11 percent.
Australian stocks gave up early gains to close slightly weaker after a cyclone threatening Queensland state hit some insurers, but miners and energy stocks were underpinned by higher commodity prices.Page 1 of 3 | Next Page