ASIA MARKETS: Hong Kong Stocks Rise, Recouping Recent Losses

By Laura He, MarketWatch

HONG KONG (MarketWatch) -- Hong Kong stocks ended modestly higher on Tuesday, marking their second day of gains and recovering losses logged at the end of last week.

The Hang Seng Index dropped in early trading, but turned higher for a 0.2% gain at 24,689.41. The index rebounded 1.3% on Monday, after touching the lowest closing level in about two weeks at 24,331.41 on Friday.

Chinese PC maker Lenovo Group climbed 3.6%, after both J.P. Morgan and Deutsche Bank raised their price targets for the stock. Meanwhile, index heavyweight Tencent Holdings extended a three-day winning streak, improving by 0.8%, as investors awaited the online major's interim results, due out on Wednesday.

However, online card and board game developer Boyaa Interactive International dived 8.4%, following an 11% surge in the previous day. The Chinese firm said Tuesday net profit nearly doubled for the first half of the year.

In Japan, the Nikkei Average edged up 0.2%, and the broader Topix index rose 0.4%. The yen (USDJPY) slipped, trading at Yen102.274 from Yen102.237 on Monday.

Elsewhere, Australia's S&P/ASX 200 advanced 1.3%, with banking shares strong. Westpac Banking Corp. gained 1.9%, Commonwealth Bank of Australia rose 1.6%, and National Australia Bank zoomed 1.4% higher.

In other Asian markets, Seoul's Kospi Composite Index inched up 0.1%, while the Shanghai Composite Index dipped 0.1%.

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