CANBERA (dpa-AFX) - Asian stocks rose broadly on Tuesday, though regional gains remained capped by talk of more sanctions against Russia and rising prices of important commodities, including crude oil. Trading volumes were thin due to public holidays in China, Hong Kong and Taiwan.
Japanese shares eked out modest gains on the back of improved services and household spending data. The Nikkei average rose 0.19 percent to settle at 27,787.98.
Heavyweights SoftBank and Fast Retailing rallied 2.6 percent and 2.1 percent, respectively while oil explorer Inpex rose about 2 percent. Shimamura soared 7.3 percent after the apparel retailer posted record fiscal-year net profit.
Australian markets ended on a positive note as the Reserve kept its cash rate at 0.1 percent but signaled higher interest rates were closer.
The benchmark S&P/ASX 200 edged up 0.19 percent to 7,527.90 as surging oil prices on worries over tighter supply lifted energy stocks. Tech stocks also surged, with Block Inc, owned by Twitter founder Jack Dorsey, rallying as much as 6.2 percent.
Nickel-lithium miner IGO fell 2.9 percent after the company said its US$829.3 million takeover of nickel producer Western Areas might fall through.
Seoul stocks ended on a flat note after data showed inflation accelerated at the fastest pace in more than a decade in March.
Investors also awaited the U.S. Federal Reserve's minutes from its March meeting, set to be released on Wednesday, and the Bank of Korea's rate-setting meeting scheduled for next week, for clues on rate outlook.
Batter maker LG Energy Solution climbed 2.4 percent and Samsung SDI added 2.6 percent after Tesla reported strong quarterly performance.
New Zealand shares ended higher following a positive lead from offshore markets overnight. The benchmark NX-50 index inched up 0.57 percent to close at 12,121.39.
Among the top gainers, Pushpay Holdings, Air New Zealand and Vista Group climbed 5-6 percent.
U.S. stocks rose overnight, led by gains in the technology sector after Elon Musk disclosed that he bought a chunk of Twitter Inc. stock.
The Nasdaq Composite jumped as much as 1.9 percent while the S&P 500 added 0.8 percent and the Dow gained 0.3 percent.
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