Summary Asian markets mostly rose on Tuesday following a rally in the previous session.
HONG KONG (AFP) - Asian markets mostly rose on Tuesday following a rally in the previous session, while Tokyo enjoyed a pick-up after a long weekend as the dollar remained strong against the yen.
Wall 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 $1.3069 and 130.21 yen compared with $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 Wednesday and Thursday. 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 Friday.
Oil prices fell. New York s main contract, West Texas Intermediate for delivery in August, lost six cents in the afternoon to $106.26, while Brent North Sea crude for August was down $1.27 at $107.82.
Gold fetched $1,291.21 per ounce at 1100 GMT, compared with $1,282.92 late Monday.
In other markets:
Taipei ended flat, edging up 5.43 points to 8,260.11. Uni-President Enterprise rose 3.83 percent to Tw$65.0 while Taiwan Semiconductor Manufacturing Co. shed 1.37 percent to Tw$108.0.
Manila closed 0.55 percent lower, dipping 36.40 points to 6,583.55.
GT Capital Holdings fell 0.55 percent to 817.50 pesos and Alliance Global Group slipped 2.92 percent to 24.95 pesos, but Philippine Long Distance Telephone added 0.35 percent to 2,900 pesos.
Wellington fell 0.64 percent, or 29.64 points, to 4,576.55.
Telecom was down 0.42 percent at NZ$2.355 and Fletcher Building slipped 1.49 percent to NZ$8.57.
Mumbai slid 0.91 percent or 183.25 points to 19,851.23 points.
Yes Bank fell 9.78 percent to 451.55 rupees while rival ICICI Bank slid 5.61 percent to 1,003.20 rupees.
Bangkok slipped 0.27 percent or 3.95 points to close at 1,451.45.
Banpu lost 0.42 percent to 239.00 baht, while Bangkok Bank closed unchanged at 202.00 baht.
Kuala Lumpur dipped 0.02 percent, or 0.28 points, to 1,786.39.
Felda Global Ventures Holdings Bhd lost 0.7 percent to 4.50 ringgit while RHB Capital ended 1.5 percent higher at 8.63.
Singapore closed down 0.37 percent, or 11.86 points, at 3,224.96.
Oversea-Chinese Banking Corporation was down 1.16 percent at Sg$10.22 while agribusiness company Wilmar International shed 0.32 percent to Sg$3.14.
Jakarta ended up 0.18 percent, or 8.31 points, at 4,644.04.
Hanjaya Mandala Sampoerna slipped 1.18 percent to 84,000 rupiah, while Sinar Mas Agro Resources and Technology gained 1.74 percent to 8,750 rupiah.
