Hong Kong, China (BBN)-Asian markets are mostly rising after a rebound in US crude oil prices led to a rally on Wall Street.
Brent crude, the global benchmark, and WTI, the US standard, both rose more than 3% despite a nationwide strike at several US refineries, reports BBC.
Hong Kong’s Hang Seng index rose 0.3% to 24,561.75 while Shanghai Composite rose 1.15% to 3,164.21.
Australian stocks also rose 0.2% on expectations the country’s central bank may cut interest rates at its meeting.
Economic data out of Australia added to the positive sentiment after the country posted its smallest trade deficit in nine months in December.
The trade shortfall of A$436m (£226m) was significantly lower than economist estimates for a A$850m trade gap due to an increase in exports amid low commodity prices.
However, Japan’s Nikkei 225 was trading flat while South Korea fell 0.3% to 1,947.14 points.
One of the biggest stock movers on Tuesday was Hong Kong-based financial group Sun Hung Kai.
Sun Hung Kai shares rallied more than 8% to their highest level since 2007 after China’s Everbright Securities agreed to buy a stake in one of its units for $529m.
BBN/AKG/AD-3Feb15-10.00am (BST)