HONG KONG: Asian markets extended gains yesterday, with investors buoyed by a string of upbeat global economic data as well as signs that a US-led strike on Syria could be averted.
Buying sentiment was also boosted by a rally on Wall Street, while Japanese traders were still on a high after Tokyo's successful bid to host the Olympic Games in 2020.
Tokyo was up 1.54 per cent, or 218.13 points, at 14,423.36, adding to its 2.48 per cent rise on Monday as Olympic-related firms enjoyed further buying.
Sydney advanced 0.38 per cent, or 19.7 points, to close at 5,201.2, while Seoul added 0.98 per cent, or 19.39 points, to 1,994.06. Manila ended up 1.54 per cent, or 92.68 points, at 6,089.72.
rose 1.15 per cent, or 25.47 points, to 2,237.98, boosted by news that industrial production in China had expanded in August at its fastest rate in more than a year.
The gains follow strong trade figures on Monday and add to recent results pointing to a pick-up in the world's number two economy and key driver of global growth.
"Prospects for a global economic rebound have allowed for more confidence in equities markets, which has made the upside direction clearer," SMBC Nikko Securities general manager of equities Hiroichi Nishi told Dow Jones Newswires.
In other markets:* Mumbai,
which was closed for a public holiday Monday, closed 3.77 per cent higher. The benchmark BSE index gained 3.77 per cent, or 727.04 points, to end at 19,997.10, to its highest close since July 24.* Jakarta
added 3.98 per cent, the worst performer in the region this year, recorded its highest intraday gain since October 2011. * Bangkok
added 0.64 per cent, or 8.86 points, to 1,393.17. Central Pattana jumped 5.77 per cent to 41.25 baht, while coal producer Banpu dropped 4.49 per cent to 298 baht.* Taipei
rose 0.20 per cent, or 16.66 points, to 8,208.77. Taiwan Semiconductor Manufacturing Co was 1.46 per cent higher at T$104.5 while HTC surged 5.16 per cent to T$132.5. * Wellington
rose 0.30 per cent, or 13.74 points, to 4,627.75. Telecom added 1.36 per cent to NZ$2.23 and Fletcher Building advanced 1.18 per cent to NZ$9.42. AFP