Asian markets are broadly higher following a bright lead from Wall Street on strong US manufacturing data, but Tokyo exporters have been hit by a rebounding yen.
Another set of weak eurozone figures indicating the troubled region is headed for recession sent traders running on Tuesday for the safety of the Japanese currency at the expense of the euro and the dollar.
Tokyo eased 0.59 per cent, or 59.48 points, to 10,050.39 but Seoul closed 0.99 per cent higher, adding 19.99 points to 2,049.28. and Sydney gained 0.18 per cent, or 7.7 points, to 4,337.0.
Hong Kong rose 1.31 per cent, or 268.72 points, to 20,790.98, while Mumbai was up 119.27 points, or 0.68 per cent, to close at 17,597.42.
Shanghai was closed for a public holiday.
US manufacturing activity accelerated in March, with the closely watched Institute for Supply Management purchasing managers index (PMI) hitting 53.2 last month, up from 52.4 in February.
A reading above 50 indicates growth while anything below suggests contraction.
The data came a day after China's official PMI showed a surprise surge to a one-year high, providing some much-needed relief from recent concerns about a severe slowdown in the world's number-two economy, a key engine of global growth.
The news lifted Wall Street on its first day of trading in the new quarter, with the Dow adding 0.4 per cent, the S&P 500 up 0.74 per cent and the tech-rich Nasdaq climbing 0.91 per cent.
However, optimism was tempered by dour European PMI figures, which showed manufacturing at a three-month low of 47.7 in March, from 49 in February.
Adding to the gloom was the announcement that eurozone unemployment hit a 15-year high of 10.8 per cent in February, up from 10.7 per cent the previous month.
The results tempered sentiment after Friday's agreement between eurozone finance ministers to boost their firewall against further debt crises to about 800 billion euros ($1.1 trillion).
The weak European figures prompted risk aversion, sending the safe-haven yen higher against the euro and dollar.
The greenback was changing hands at Y82.03 in afternoon Asian trade, down from Y82.06 in New York late on Monday and rates above Y83 in Asia.
The euro fetched $1.3341 and Y109.5, compared with $1.3319 and Y109.32 in New York. The single currency had been trading around 111.00 yen in Asia Monday.
The Australian dollar dived after the central bank kept interest rates steady at 4.25 per cent on Tuesday, saying growth was close to trend and inflation near target even as it hinted a rate cut may be in the offing next month.
The dollar was trading at 103.74 US cents in Europe, down from 104.33 US cents ahead of the decision.
Eyes are also on several key events later in the week, including policy committee meetings for the European, British and US central banks and the release of US unemployment figures.
On oil markets New York's main contract, West Texas Intermediate crude for delivery in May, shed 19 cents to $104.66 a barrel while Brent North Sea crude for May settlement was down 59 cents at $124.84 in the afternoon.
Gold was at $1,676.62 an ounce at ,1030 GMT (2030 AEST) compared with $1,664.25 late on Monday.
In other markets:
- Singapore closed flat, edging down 1.09 points to 3,014.98.
DBS Bank shed 2.75 per cent to Sg$13.79 while shipping line Neptune Orient Lines was up 1.40 per cent at Sg$1.45.
- Taipei fell 1.30 per cent, or 102.05 points, to 7,760.85.
Leading smartphone maker HTC dived 5.45 per cent to Tw$555.0 while Hon Hai Precision was 0.9 per cent lower at Tw$110.0.
- Manila closed 1.06 per cent, or 4.38 points, lower at 5,056.48.
San Miguel Corp shed 0.17 per cent to close at 113.50 pesos and Philippine Long Distance Telephone eased 0.4 per cent to 2,684 pesos.
- Wellington was down 0.59 per cent, or 20.52 points, at 3,473.09.
Fletcher Building slipped 2.41 per cent to NZ$6.47, Telecom was unchanged at NZ$2.45 and Contact Energy fell 0.43 per cent to NZ$4.63.
- Kuala Lumpur added 0.18 per cent, or 2.85 points, to 1,606.63.
Financial firm CIMB Group Holdings added 0.26 per cent to 7.81 ringgit, while Petronas Chemicals Group climbed 0.15 per cent to 6.73 ringgit. Plantation firm Sime Darby lost 0.10 per cent to 9.87 ringgit.
- Jakarta rose 1.19 per cent, or 49.37 points, to 4,215.44.
- Bangkok rose one per cent, or 11.98 points, to 1,211.07.
