Tokyo and Sydney advance overnight

Asian markets were broadly higher Thursday, with Japan and Australia posting gains for a second day as investors piled into Honda Motor Corp., BHP Billiton Ltd. and energy-related shares after crude-oil prices rebounded.

Japan's Nikkei 225 Average ended the session 0.5% higher to 16,024.9. The Tokyo Stock Price Index, or Topix, was up 0.7% to 1,602.6.
Elsewhere around the region, Australia's S&P ASX/200 rose 0.4% to 5,115.2, as the mining sector gained for a second day following recent weakness in the commodity sector.

Shares listed in India traded flat. Singapore's Straits Times Index was up 0.1%. Indonesia's Jakarta Composite Index rose 0.3%. New Zealand's leading share index rose
0.4%.

In Taipei, the Weighted Index fell 0.9% to 6,885.1, to rank as the lead declining market. Malaysia's KLSE Composite was up 0.3%. South Korea's Kospi Index was up 0.8%, while the Shanghai Composite Index advanced 0.7%.

Hong Kong's Hang Seng Index gained 0.2% to 17,551.5. The China Enterprises Index, or Hong Kong-listed shares in mainland-incorporated companies, was up 0.6% at 7,113.8.
"The new cabinet has started and there are upbeat expectations of the growth strategy of the Abe administration," said Hirokaza Yuihama, regional head of strategy for Daiwa Securities in Hong Kong. He added that U.S. data on new-home sales released Wednesday was stronger than expected, pointing to a more upbeat outlook for economic growth than many had expected.

"I have been positive on Asia because of the high probability of a soft landing in the U.S," Yuihama said. "It is unlikely we'll see further interest rate hikes this year, and we're even looking at a rate cut early next year, so it all works toward the positive."
Gains among Asian markets were limited despite Wednesday's advance on Wall Street, which saw the Dow Jones Industrial Average within striking distance of its all-time high.