Asian Markets Rise On Sell-Off

May 27, 2008 11:29 a.m. EST

Tokyo, Japan (AHN) - Asian investors were in a buying mood, pushing automakers and electronics companies higher.

Volume was off as the U.S. and U.K. markets return from a Monday holiday.

In Tokyo, the Nikkei 225 closed up 1.5 percent to 13,893. The Topix gained 1.8 percent to 1,368.

Automaker Toyota rose 1.8 percent and Nissan Motor added 1.9 percent. Expecting more auto exports, investors pushed part maker Toshiba Machine Co. up 5.5 percent.

In Hong Kong, the Hang Seng gained 0.6 percent to 24,282 with China's Shanghai Composite inching up 0.3 percent.

South Korea's Kospi index rose 1.4 percent to 1,825 as Samsung added Qualcomm to its its list of cell phone chip suppliers.

Australia's S&P/ASX 200 ended 0.3 percent higher.