Tokyo firm; other Asian markets mixed

Tech stocks including Toshiba were firmer in Tokyo Tuesday

TOKYO, Japan -- Tokyo shares firmed by midday Tuesday. Other Asian markets were mixed, with gains in Hong Kong and Australia offset by weakness in Korea.

Investors in Japan took their cue from a recovery in U.S. blue chips and buying in high-tech and communications issues.

Japan's benchmark Nikkei 225 average was up 76.12 points or 0.60 percent to 12,827.30 at midday. The broader TOPIX index rose 6.87 points or 0.53 percent to 1,293.79.

Elsewhere in the region, Australia's benchmark S&P/ASX200 rebounded from Monday's decline to be 6.7 points higher at 3445.1, but New Zealand's Top 40 index was down slightly.

Australian blue chips News Corp and resources giant BHP Billiton were firmer in Sydney, but leading banks weakened.

Korea, Taiwan down slightly

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In Seoul, the Kospi was down 2.16 points to 594.67 by midday on weakness among issues such as Hyundai Motor and Hynix Semiconductor.

In Taiwan, the Taiex was down 8.48 points to 4878.38.

Overnight in New York, the Dow Jones industrial average gained 91 points to 10,593.72, but the Nasdaq composite eased 11.82 points to 2148.72.

A recent recovery in European telco stocks and a rebound by Nippon Telegraph and Telephone Corp from an eight-year low last week encouraged investors to return to the sector, which gained a hefty 2.72 percent.

NTT rose 1.93 percent to 686,000 yen.

Tech stocks make good gains

Gains by semiconductor-related stocks, including Toshiba Corp and Advantest Corp, also bolstered overall sentiment. Advantest climbed 1.17 percent to 10,420 yen and Toshiba firmed 0.79 percent to 638 yen.

High-tech and communications issues were hurt by weakness in the Bank of Japan's key quarterly tankan survey on Monday.

Banks were mixed despite comments late on Monday by Finance Minister Masajuro Shiokawa that suggested the possibility of a future injection of public funds into debt-laden banks.

Mizuho Holdings, the world's biggest banking group by assets, edged down 0.18 percent to 564,000, but second-ranked Sumitomo Mitsui Banking Corp rose 1.2 percent to 1,008.

Jsat Corp climbed 1.32 percent to 770,000 yen after Japan's biggest communications satellite operator said it will take a majority stake in Satellite Network Inc, a satellite data provider.

Fast Retailing Co Ltd jumped 2.78 percent to 21,800 yen after the popular Uniqlo casual clothing chain operator said existing-store sales rose 28.4 percent in June from a year earlier.

Reuters contributed to this report.