Asia rebounds on Wall St. rise
(CNN) -- Asian markets have rebounded to close higher Tuesday on the back of Wall Street's good performance Monday.
Taiwan led the recovery, jumping more than 2.6 percent after Monday's 1.44 percent fall.
Singapore and Hong Kong also posted strong gains, with the Hang Seng index back above 12,000.
Australia, South Korea and New Zealand finished in the black, though their moves were muted ahead of the meeting later Tuesday of the U. S. Federal Reserve's open markets committee.
The Fed is not expected to move on rates this week, but may signal when an increase is likely.
Australia's Reserve Bank was expected to leave rates on hold at its own meeting Tuesday, with any decision announced Wednesday.
Markets were closed for national holidays Tuesday in Japan, India and Malaysia. Japan was shut Monday and will be closed also on Wednesday.
In Taiwan, the Taiex closed 2.63 percent ahead to 6188.15, with techs rebounding sharply from their falls on Monday.
AU Optronics jumped 6.2 percent and Acer put on 4.2 percent.
Chip giant TSMC continued to gain on optimism about government approval for its $900 million investment in China. It finished 1.7 percent ahead to T$59.00.
Rival chip foundry UMC rose 2.3 percent to T$30.20 and Formosa Plastic put on 2.1 percent.
In South Korea, the Kospi finished just 0.16 percent higher to 867.48.
Hyundai Motor put on 2.2 percent to 46,450 won after DaimlerChrysler said it would sell its 10 percent stake in the Korean carmaker. (Full story)
Hynix Semiconductor jumped 8.2 percent to 13,200 won on reports a Citigroup unit will pay more for some of its business. (Full story)
Samsung Electronics was off 0.2 percent to 555,000 won and SK Telecom was down 1 percent to 200,000 won.
LG Electronics, which signaled a big push into plasma screens Monday, closed 1.26 percent higher to 72,100 won. (Full story)
In Australia, the S&P/ASX200 finished up 0.26 percent to 3391.2 after falling to a five-week low Monday on concerns over an economic slowdown in China.
Resources leader BHP Billiton rose 1.6 percent to A$11.50 after announcing investments of $311 million in diamond and alumina projects. (Full story)
Rio Tinto was also higher.
Banks posted solid gains, with fifth-ranked St George Bank jumping more than 7 percent to A$21.65 on a strong first-half performance.
It beat forecasts with a first-half net profit of A$354 million and increased its full-year guidance. (Full story)
In Singapore, the Straits Times index is up 1.8 percent to 1872.69 near the close, helped by a 1.7 percent lift for SingTel and 1 percent for Singapore Airlines.
In Hong Kong, the Hang Seng index is 1.17 percent higher to 12,090.62 near the close. One of the big movers is China Mobile, up 2.6 percent to HK$21.55.
Leading bank HSBC is about 0.9 percent ahead to HK$114.50.
The moves in Asia followed gains on Wall Street Monday, where the Dow Jones industrial average put on 0.86 percent to 10,314.0, and the tech-heavy Nasdaq composite rose 0.97 percent to 1938.7. (Full story
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