Market Update
Stocks in Asia ended mostly higher with the Japanese market out-performing other markets, tracking a positive close on Wall Street overnight.
At close, Japan's Nikkei edged up 2.6% while Hong Kong's Hang Seng, India's Sensex and Australia's ASX rose 1% to 1.7%. Mainland China's Shanghai Composite, however, slipped 0.1%.
Exports stocks in Japan got a boost after the yen weakened against the U.S. dollar.
Crude-oil futures also declined on the hope of an end-game in the Libyan conflict.
Stocks on the Move
In Tokyo, technology stocks led the index higher: Elpida Memory gained 3.6% while Sony, Canon and Panasonic rose 1.7% each. Automakers Toyota, Honda and Nissan climbed 2.1% to 3.8%.
However, Tokyo Electric Power Company, operator of the nuclear power plants that broke down during the recent earthquake, dropped 17%. The stock has lost about 78% since the disaster.
Hong Kong shares advanced along with other markets with heavyweights Hutchison Whampoa and Agricultural Bank of China surging 5.3% and 2.9% respectively, after declaring results.
But mainland focused shares traded sedate throughout the day with losses in property stocks offsetting gains in banks.
Indian stocks added to their recent upsurge with a broad-based rally. Realtor DLF, pharmaceutical major Cipla and oil firm HPCL gained 3.3% to 5.2%.
In Sydney, miners witnessed buying with BHP Billiton and Rio Tinto rose 2% to 2.4%.