By Ilya Garger, MarketWatch
HONG KONG (MarketWatch) -- Asian markets rose sharply Tuesday as Japanese technology and exporter shares were energized by a surge in the Nasdaq and strong earnings from video-game giant Nintendo.
Japan's Nikkei 225 /zigman2/quotes/210597971/delayed JP:NIK +0.66% gained 1.4% to finish at 15,005.24. The broader Topix index of shares listed on the Tokyo Stock Exchange was up 1.4% to 1,534.82.
Hong Kong's Hang Seng Index closed up 0.6%, to 16,583.86. The China Enterprises Index of Hong Kong-listed mainland shares added 0.4%. For business news in Chinese, see Chinese.WSJ.com.
"Hong Kong is following the regional trend," said Kingston Lin, associate director of Prudential Brokerage. "I think it can go up further in the next few days."
He said that China's new curbs on property purchases by foreigners, announced Monday, were having little effect on property stocks. See full story.
"The impact is very small because this has been totally priced in," Lin said.
China's benchmark Shanghai Composite rose 1.2%, South Korea's Kospi index rose 1.3%, and Australia's S&P/ASX 200 gained 1.2%. In afternoon trading, India's Sensex was up about 2%.
Stocks in focus
In Tokyo, Nintendo Co. /zigman2/quotes/201616881/delayed NTDOY +0.60% /zigman2/quotes/208063194/delayed JP:7974 -1.37% gained 5%. It reported Monday after the close of Tokyo trading that quarterly net profit rose more than 10%, while operating profit increased more than seven-fold on brisk sales of its hand-held game devices. It also raised its earnings guidance for the year.
Other Japanese tech exporters also fared well. Toshiba Corp. /zigman2/quotes/203922036/delayed TOSBF +5.28% /zigman2/quotes/205628942/delayed JP:6502 +1.68% , Japan's largest chip-maker, was up 4.6%. Strong earnings reported Monday by U.S.-based SanDisk Corp. , which competes with Toshiba in the flash-memory market, help the Japanese company's shares.
Other semiconductor firms also benefited from SanDisk's and Texas Instruments' results, which gave investors hope the industry would continue to perform well. Chip-testing equipment maker Advantest Corp. /zigman2/quotes/206869087/delayed JP:6857 +3.16% was up 3.2%. Tokyo Electron /zigman2/quotes/200298228/delayed TOELF -0.67% /zigman2/quotes/202883609/delayed JP:8035 +3.21% , a maker of chip-manufacturing equipment, also gained 3.2%. See more technology coverage.
Sharp Corp. /zigman2/quotes/207472799/delayed SHCAF -4.25% /zigman2/quotes/203224600/delayed JP:6753 +0.76% , the world's largest manufacturer of LCD TVs, gained 3% on strong earnings expectations. The company reported after the close that quarterly net profit grew 23%, roughly in line with expectations. It kept its full-year outlook unchanged.
Automakers advanced after Toyota Motor /zigman2/quotes/200537742/composite TM +2.79% /zigman2/quotes/203803129/delayed JP:7203 +0.10% and Honda Motor /zigman2/quotes/207173990/composite HMC +1.59% /zigman2/quotes/200490352/delayed JP:7267 +0.51% reported strong June production and export figures. Toyota rose 3.3%, while Honda added 3.6%. See more autos coverage.
Nissan Motor /zigman2/quotes/207656007/delayed NSANY +1.17% /zigman2/quotes/208298710/delayed JP:7201 +0.53% gained 2.4% despite announcing that its auto production fell in June. It reported post-close that quarterly net profit rose 4%, while operating profit fell 26% amid flagging sales due to a lack of new models. See full story.
In Hong Kong, China Mobile /zigman2/quotes/200868736/delayed HK:941 +0.70% , the world's largest cell-phone service provider by subscriber base, was up almost 1%. China Mobile is the second-largest company on the Hong Kong exchange by market capitalization.
HSBC Holdings /zigman2/quotes/202687335/delayed HK:5 +1.46% , Hong Kong's largest stock, was up 0.9%. The London-based financial giant is expected to report strong earnings next week.
Shares in mainland-focused developers fared well despite Monday's restrictions on foreign property purchases. Hopson Development Holdings /zigman2/quotes/203164625/delayed HK:754 +0.83% was up about 3%, while Guangzhou R&F Property Co. /zigman2/quotes/206698750/delayed GZUHF -9.94% /zigman2/quotes/200033596/delayed HK:2777 +0.34% gained 2.7%.
Fixed-line phone company PCCW Ltd. /zigman2/quotes/202687335/delayed HK:5 +1.46% stocks were suspended after local media reported that the company's board planned to formally reject offers by foreign firms for the company's core telecom and media assets. Australia's Macquarie Bank /zigman2/quotes/209628452/delayed MQBKY +1.29% and Newbridge Capital, the Asian investment arm of U.S.-based Texas Pacific Group, announced bids for PCCW's assets in June.
Blue-chips gained in Australia, with miner Rio Tinto adding 1.7% and National Australia Bank rising 1.9%.
BHP Billiton /zigman2/quotes/208108397/composite BHP -0.41% , the world's largest mining company, gained 1.9% after reporting strong metal production figures, despite also announcing that two key projects were over budget by a total of more than $700 million. See more global markets coverage.