Most Asian shares rise after Wall Street gains

Most Asian markets advanced after Wall Street pushed higher overnight despite a rate hike by China.

Japan’s Nikkei 225 stock average rose 0.2 percent to 10,659.01.
Automakers advanced, with Toyota Motor Corp. leading the way.

The issue surged 4.6 percent after raising its full-year earnings forecasts Tuesday, citing booming sales in China and other emerging markets.

It also benefited from a U.S. government report that ruled out electronic flaws in runaway Toyota vehicles.

Elsewhere, Hong Kong’s Hang Seng index added 0.3 percent to 23,546.68. The Shanghai Composite index inched up 0.9 percent to 2,800.06., and Australia’s S&P/ASX 200 added 0.5 percent to 4,915.50.

Benchmarks in South Korea, Taiwan and Singapore posted declines.

In New York on Tuesday, the Dow Jones industrial average finished higher for the seventh consecutive day. Investors took in stride a move by China’s central bank to control inflation by raising short-term interest rates.

The Dow rose 71.52 points, or 0.6 percent, to close at 12,233.15.
The broader Standard & Poor’s 500 index rose 5.52, or 0.4 percent, to 1,324.57. The Nasdaq composite index rose 13.06, or 0.5 percent, to 2,797.05.

In currencies, the dollar slipped to 82.36 yen from 82.38 yen late Tuesday. The euro rose to $1.3634 from $1.3627.