Asian stocks firmer on Oracle lift

TOKYO, Japan -- Asian stocks were trading stronger by midday on Tuesday, with market sentiment bolstered by some better tech news from the U.S.

The world's second-biggest software maker Oracle Corp issued earnings after the bell that slightly exceeded expectations.

In Japan, the technology-sensitive Nikkei average gained 1.17 percent or 149.15 points to 12,846.94, boosted by telco and tech share rises. This was despite a 1.96 percent fall on the U.S. Nasdaq index.

The capital-weighted TOPIX index added 0.84 percent or 10.55 points to 1,270.20.

Australia, Korea, HK all firmer

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In Australia, the benchmark S&P/ASX200 was up 10 points to 3395 for a gain of 0.28 percent, while in Seoul, the Kospi was up 4.67 points, or 0.81 percent, to 613.45.

Hong Kong's Hang Seng index was up slightly, rising 23 points to reach 12,971.92 just on midday.

Oracle said its fourth-quarter net income fell eight percent from the previous year, but that the per-share results beat street forecasts by a penny.

"We got a taste of good news after days of gloom and the market went with it," said Haruki Takahashi, manager of equity dealing at Tsubasa Securities.

"The downside risk related to earnings revisions at home and in the U.S. is not yet factored in, but in select sectors there's a sense that we're getting there."

Equipment sector showing some life

Takahashi said chip equipment was one such sector starting to show life, with Tokyo Electron Ltd up 4.08 percent to 7,390 yen, and Advantest Corp tacking on 3.22 percent to 11,850.

Oracle's news lured buyers to Oracle Corp Japan, which jumped 5.86 percent to 15,350 yen.

Yahoo Japan Corp surged 11.62 percent to 4.13 million yen after the dominant Internet portal said it and parent Softbank Corp would jointly launch ADSL high-speed Internet access services in Japan.

The weaker yen -- trading near a four-week low against the dollar earlier -- was also underpinning the market, analysts said.

Toyota Motor Corp, Japan's top automaker, put on 1.45 percent to 4,210 yen. Electronics giant Sony Corp rose 2.42 percent to 8,870.

A softer yen boosts Japanese exporters' profits when repatriated into the local currency.

In the communications sector, dominant mobile phone carrier NTT DoCoMo Inc gained 3.02 percent to 2.05 million yen to regain most of Monday's 3.4 percent slide after J-Phone East said it would cut its cellular service charges from July.

Reuters contributed to this report.