Asian shares tad higher

Asian stocks eked out mostly small gains Tuesday as investors digested news that President Barack Obama's tax-cut package had gained enough votes in the Senate.

Japan's Nikkei 225 stock average rose less than 0.1 percent to 10,293.97. The index wavered between positive and negative territory as investors locked in gains after the index hit a new seven-month closing high the previous day. Some exporters retreated as the dollar fell back under the 84-yen line.

The slight gain came a day after Tokyo said it would cut the country's corporate tax rate by 5 percentage points to try to stimulate the economy. Japan's corporate tax rate is now near 40 percent, compared to about 30 percent in the U.S. and Britain.

Hong Kong's Hang Seng was up 0.1 percent at 23,350.71 and Australia's S&P/ASX 200 added 0.2 percent to 4,765.90.

South Korea's Kospi rose 0.3 percent to 2,001.72, climbing above the psychologically important 2,000-level for the first time in three years.

In New York Monday, the Dow Jones industrial average closed with a gain of 18.24, or 0.2 percent, to 11,428.56. Sentiment was bolstered by expectations that the tax deal would be successful.

Economists expect the nearly $900 billion tax package to boost economic growth in the world's largest economy and increase the size of the budget deficit. The bill got overwhelming support in a Senate test vote and final passage is expected Tuesday in the U.S.

The broader S&P 500 index eked out a new 2010 high for the fourth time in four days, rising 0.06 point to 1,240.46. The tech-heavy Nasdaq composite index fell 12.63, or 0.5 percent, to close at 2,624.91.

In currencies, the dollar was little changed at 83.45 yen from 83.47 yen late Monday. The euro rose to $1.3399 from $1.3379.

Benchmark crude for January delivery was down 17 cents at $88.44 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose 82 cents to settle at $88.61 on Monday.

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Asian markets higher amid growth hopes

Asian stock markets mostly advanced Thursday after Japan's third quarter GDP was revised higher and the extension of U.S. tax cuts boosted expectations of stronger economic growth in the short-term.

The regional upswing came after modest gains in the U.S., where stocks fluctuated before turning positive late in the session. A compromise in Washington to extend tax cuts boosted shares and sent bond prices sharply lower, as some investors expect it to lead to stronger growth in the world's No. 1 economy.

Japan's benchmark Nikkei 225 stock average rose 0.2 percent to 10,253.72 as the dollar hovered near 84 yen, bolstering exporters who in past months were struggling with a much stronger yen.

Adding to the positive mood was revised figures that showed the economy grew an annualized 4.5 percent in the third quarter, more than initially estimated.

Hong Kong's Hang Seng index rose 0.3 percent to 23,150.54. South Korea's Kospi added 0.8 percent to 1,971.24 thanks to buying of tech and banking shares. Korean giant Samsung Electronics Co. jumped 1.6 percent, while rival LG Electronics Inc. was up 1.8 percent.

Australia's S&P/ASX 200 climbed 0.7 percent to 4,732.00 amid figures showing the unemployment rate fell to 5.2 percent and the number of employed people jumped by 54,600.

China's Shanghai Composite Index was off 0.8 percent at 2,826.63. Benchmarks in Taiwan and Singapore climbed.

The Dow Jones industrial average inched up 0.1 percent to 11,372.48 on Wednesday. The broader Standard & Poor's 500 index rose 0.4 percent, to a new yearly high of 1,228.28.

In currencies, the dollar slipped to 83.82 yen from 84.01. The euro rose to $1.3306 from $1.3261.

Benchmark crude for January delivery was up 71 cents at $88.99 a barrel in electronic trading on the New York Mercantile Exchange. The contract lost 41 cents to settle at $88.28 on Wednesday.

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