Most Asian stock markets advanced Tuesday as better-than-expected readings on US manufacturing and China's services industries data lifted sentiment while stronger yen hurt Japanese shares.
US stocks rallied to a multiyear high on Monday following report of the US manufacturing sector expanding at a faster speed than the forecast for March. The Institute for Supply Management's index of the US factory activity rose to 53.4 in March from February's 52.4, while economists' expected a reading of 53.
Stocks in Hong Kong gained after data signaled signs of growth in China's services industries. Hong Kong's Hang Seng advanced 0.83 percent or 169.85 points to 20,691.85.
China released seasonally-adjusted non-manufacturing PMI data, where it climbed to 58.0 in March from an upwardly revised 57.3 in February.
The adjusted series paint a picture of improving sentiment in the services sector. This bodes well for growth in the tertiary sector both in Q1 and in Q2, and suggest that it will provide a floor to growth even if manufacturing struggles, a note from Credit Agricole said.
In Hong Kong, Chinese Property developers' shares rallied as Eva Lee, an analyst at UBS, wrote in a report that the companies' managements are financially well-prepared against a challenging physical market, Bloomberg Reported.
Evergrande Real Estate Group climbed 7.28 percent and China Overseas Land & Investment surged 4.26 percent.
Resource companies shares gained on higher commodity prices. Jiangxi Copper Co. surged 3.53 percent and Angang Steel Co. climbed 4.31 percent.
Meanwhile, Japanese stock markets ended lower, led by declines from exporter companies' shares as the yen rise to its highest level in about a month. The Japanese benchmark Nikkei declined 0.59 percent or 59.48 points to 10,050.39.
Among the stocks, Sharp Corp fell 1.34 percent and Fuji Heavy Industries declined 1.62 percent, while Panasonic Corp and Mazda Motor declined more than 2 percent.
South Korean shares surged to a 14-month closing high, led by gains from automakers. Benchmark Seoul Composite advanced 0.99 percent or 19.99 points to 2,049.28. Hyundai Motor Co. climbed 6.25 percent and Kia Motors surged 3.43 percent.
Chinese Shanghai was shut for a public holiday.