Asian market gain a little on optimism of recovery (AP) (22-09-2009)

HONG KONG (AP) -- Asian stock markets were advancing modestly on Tuesday as investors turned optimistic regarding the assistance the region's economies can provide in global recovery.

Trading was tame and Japanese and other countries' stock exchanges were closed for holidays. Crude oil prices recovered after a big fall overnight on a weakening dollar against the yen and euro.

Hong Kong's Hang Seng added 109.20 points, or 0.5 percent, to 21,582.05, and South Korea's Kospi gained 24.19 points, or 1.4 percent, to 1,719.69. India's Sensex was up 0.7 percent.

Markets in Japan, Indonesia and Malaysia were closed for public holidays.

Elsewhere, China's Shanghai market fell 1.3 percent, while Thailand and Singapore stocks rose. Markets in Taiwan and Australia traded lower.

Oil prices were higher, with benchmark crude for October delivery up 45 cents at $70.16 a barrel. The contract fell $2.56 overnight.

The dollar slipped to 91.69 yen from 91.98 yen. The euro climbed to $1.4710 from $1.4675.

Source: AP