LONDON (ShareCast) - Japan's Nikkei (news) posted good gains and the Hang Seng (news) reversed earlier losses as commodity linked stocks
did well while financials also helped.
Across the markets, the Nikkei rose 99 points to 9768 with the Hang Seng rising 176 points to 18,679.
With oil prices nearing the $70 a barrel mark and gold close to the $1,000 an ounce, commodities have been doing well.
Oil and gas field developer Inpex, Nippon Oil (Berlin: NIO.BE - news) and Showa Shell Sekiyu (Frankfurt: 858088 - news) are all up. Higher metal prices gave trading houses such as Mitsubishi Corp (MBC.IL - news) and Mitsui & (Munich: 853656 - news) amp; Co a boost.
Meanwhile, banks gained with Sumitomo Mitsui Financial and Mizuho Financial doing well.
Mazda Motor (Munich: 854131 - news) surged after Nikko Citigroup raised its rating on the automaker.
Hong Kong shares rallied late on. Shares in Aluminum Corp of China dropped after Rio Tinto (LSE: RIO.L - news) scrapped its proposed $19.5bn tie-up with the Chinese company's parent firm, Chinalco.
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