9-9-13 10:04 PM EDT | Email Article
 

By Daniel Inman

 

Asian stocks rose early Tuesday, ahead of a fresh round of Chinese economic data and signs that Syrian tensions are easing.

 

Wall Street ended Monday higher, helped in part by hopes that the threat of a U.S. military intervention in the Middle East could be abating, as Syria welcomed a Russian proposal to put its chemical weapons under international control, though it didn't indicate whether it would comply.

 

The price of oil fell 0.8% in Asia to $108.65 a barrel.

 

The dollar strengthened against the yen Tuesday -- last at Yen99.68, compared with Yen99.57 late Monday in New York.

 

The softer yen supported Japanese stocks, with the Nikkei Average up 1.4%, adding to a 2.5% jump in the previous session sparked by Tokyo's successful bid to hold the 2020 Summer Olympics.

 

In Tokyo, department store operator Isetan Mitsukoshi Holdings (3099.TO) rose 1.3%, after the Nikkei reported that group operating profit for fiscal 2013 was likely to rise 30% to around Yen35 billion ($350 million), exceeding company guidance.

 

Suntory Beverage & Food underperformed the Tokyo stock market slightly, rising 0.9%, after agreeing to buy drink brands Lucozade and Ribena from GlaxoSmithKline (GSK) for 1.35 billion British pounds ($2.12 billion).

 

China remained in focus ahead of its next installment of economic data, with figures on industrial output and retail spending due later in the session.

 

The recent string of numbers out of China have pointed to a recovery in the world's second-largest economy, which went through a period of weakness earlier in the summer.

 

Most recently, rising exports and subdued inflation helped give regional stocks a boost Monday -- especially in Shanghai where stocks enjoyed their biggest percentage gain for the year.

 

Australia's S&P ASX 200 was up 0.5%, and South Korea's Kospi added 0.3%.

-Daniel Inman; 415-439-6400; AskNewswires@dowjones.com

 

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(END) Dow Jones Newswires

09-09-13 2204ET

Copyright (c) 2013 Dow Jones & Company, Inc.
Copyright 2014 MarketWatch
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