Commodities stocks help buoy Asian markets

Tokyo closed up 0.42 percent while Hong Kong added 1.76 percent.

Sydney gained 0.19 percent on a strong showing for gold and mining stocks, while bargain hunting pushed Seoul 1.94 percent higher.

Shanghai closed up 0.46 percent.

Resource-related companies across the region jumped Wednesday after gold surged to record highs, helped by news of the Indian central bank's purchase of 200 tons the precious metal from the IMF.

The results of the U.S. Federal Reserve's policy meeting late Wednesday -- with the Fed's outlook in focus -- and a jobs report Friday will determine the direction of Asian markets in the near term, analysts said.

The Fed is expected to hold its key lending rate steady in a range of zero to 0.25 percent. The European Central Bank and Bank of England will announce policy decisions Thursday.

TOKYO: Up 0.42 percent. The Nikkei-225 rose 41.36 points to 9,844.31. “Anything indicative of the current and forward-looking state of the U.S. economy is being closely watched,” Yukio Takahashi, market analyst at Mizuho Securities, told Dow Jones Newswires.

Toyota Motor gained 1.1 percent to 3,610. The company said its sales in China last month increased 42 percent from a year earlier to 65,500 vehicles, while a news report also said Toyota is set to raise its global sales target.

HONG KONG: Up 1.76 percent. The Hang Seng Index gained 374.71 points to 21,614.77. Gold prices kept resource firms buoyant, while financials were sought out after recent losses.

SYDNEY: Up 0.19 percent. The S&P/ASX 200 put on 8.6 points to 4,540.1. Gold and banks boosted the market.

SHANGHAI: Up 0.46 percent. The Shanghai Composite Index, which covers both A and B shares, was up 14.31 points to 3,128.54. The market ended higher for the fourth consecutive session to mark the longest winning stretch in two months.

SEOUL: Up 1.94 percent. The KOSPI ended up 30.01 points at 1,579.93. Foreign investors hunted bargains among technology and auto shares, analysts said, lifting an otherwise quiet market.

SINGAPORE: Up 1.03 percent. The Straits Times Index rose 27.09 points to 2,648.64. “People are watching interest rate indications from other countries, but it's still a good time to buy as there's value in a number of stocks,” said a dealer at a foreign brokerage.

BANGKOK: Up 2.68 percent. The Stock Exchange of Thailand jumped 17.93 points to 686.41.

KUALA LUMPUR: Up 0.93 percent. The Kuala Lumpur Composite Index climbed 11.52 points to 1,253.84.

JAKARTA: Up 1.62 percent. The Jakarta Composite Index gained 37.75 points to 2,371.85.

MANILA: Flat. The index shed 0.61 points to 2,907.63. The market opened upward but later slumped on profit-taking.

WELLINGTON: Up 0.24 percent. The NZX-50 closed up 7.71 points at 3,166.71.

MUMBAI: Up 3.29 percent. The 30-share Sensex rose 507.19 points to 15,912.13.

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