Asian shares rise on China economic data

HONG KONG: Asian shares rose Tuesday, taking a lead from European markets which started 2012 in positive territory, and after China announced better-than-expected manufacturing data.

Australia's S&P/ASX 200 was up 1.16 percent, Hong Kong rose 1.80 percent in morning trade while Seoul was 2.50 percent higher.

Financial markets in China, Japan and Thailand were closed for a public holiday.

The euro strengthened against the Japanese currency on Tuesday, with the unit changing hands at 99.79 yen in early Asian trade against 99.62 on Friday, as it fell below the 100-yen mark for the first time in 10 years.

The euro bought $1.2985 against $1.2939, while the dollar bought 76.85 yen, against 76.98.

On oil markets, New York's main contract light sweet crude for February delivery gained $1.51 to $100.34 and Brent North Sea crude for February delivery put on $1.12 to $108.50.

Gold stood at $1,577.67 an ounce at 0300 GMT, against $1,579.00.