Tech Results Help Asian Shares

Upbeat results from Apple and International Business Machines inspired gains in Asia’s technology stocks, while a weaker U.S. dollar helped lift commodity-sector shares.

The Shanghai Composite climbed 1.8% to 2758.10, and Hong Kong’s Hang Seng Index rose 1.1% to 24419.62. Investors temporarily looked past concerns that China will again tighten monetary policy, although they remained wary that inflation data due this week could bring back those worries.

“We’re primarily still focused on China, and the inflation data tomorrow will be key,” said RBS Morgans investment adviser Chris MacDonald.”A lot of people are still settling in after their holidays, and I don’t think anyone will be making big bets until we see that Chinese inflation data as an indicator for commodity prices for the next three to six months.”