ASIA STOCKS mostly rose Tuesday (02.07.2013)

Japanese stocks climbed higher Tuesday as upbeat manufacturing reports from the U.S. and the euro zone signaled an improvement in the major developed economies, with exporters also aided as the U.S. dollar stayed close to the ¥100 level.

The Nikkei Stock Average gained 1.78% and the broader Topix climbed 1.84%.

Shares of Hitachi Ltd. rose 5.64%, Canon Inc. added 3.7% and Subaru-brand vehicle maker Fuji Heavy Industries Ltd. rose 2.12%.

Resource sector shares advanced following an overnight increase in the prices of gold, copper and crude-oil, with Inpex Corp. rising 3.4% and Sumitomo Metal Mining Co. advancing 4.71%.

Hong Kong stocks wavered in choppy trade Tuesday as the markets reopened after a three-day weekend, with banks and property developers declining on weak Chinese manufacturing data for June to counter gains for energy producers and some casino operators.

The Hang Seng Index retreated 0.57%.

Shares of China Construction Bank Corp. fell 0.63% and China Resources Land Ltd. eased 4.72%, after the Purchasing Managers' Index data released by the government and HSBC both indicated the manufacturing sector weakened.

Shares of PetroChina Co. jumped 7.03% and Cnooc Ltd. fell 1.06%.

Wynn Macau Ltd. gained 3.57% following data showing Macau casino industry revenues climbed 21% in June from a year earlier.

Australian stocks jumped Tuesday before an expected interest-rate decision by the Reserve Bank of Australia. The S&P/ASX 200 climbed 2.63%.

In the banking space, shares of Macquarie Group Ltd. rose 2.33%, Australia & New Zealand Banking Group advanced 2.01%, and Westpac Banking Corp. picked up 1.64%.

Among miners, shares of BHP Billiton Ltd. and Rio Tinto Ltd. were up more than 2% each, and Fortescue Metals Group Ltd. added 5.76%.

Analysts widely expect the central bank to hold benchmark cash rate at the record low level of 2.75%.

There was no surprise on the dovish tone either, with the RBA repeating the old line "the inflation outlook, as currently assessed, may provide some scope for further easing, should that be required to support demand."

What is worse, the RBA stated "The Australian dollar has depreciated by around 10% since early April, although it remains at a high level", which was a hint that despite the dramatic fall, the currency is still not low enough.

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