Asian markets continue to rise as risk aversion eases

Markets across Asia have moved higher in early trading today (July 23rd), with the mining industry responsible for much of the gains.

Equities took their cue from an upbeat session on Wall Street, which came after the release of strong US housing figures and largely positive earnings reports.

While concerns remain regarding the violence in Gaza and tensions between Ukraine and Russia, fears have eased somewhat after rebels handed over the black boxes from the downed MH17 Malaysian Airlines passenger jet. 

Confidence was also boosted after BHP Billiton, the world's largest miner, revealed its iron ore production increased by 19 per cent in its fourth quarter - beating expectations.

Speculation continues to mount that the Chinese government is preparing to introduce greater stimulus to boost the country's property market, supporting gains for companies in related sectors.

The Shanghai Composite added 0.14 per cent, while Hong Kong's Hang Seng gained 0.63 per cent to reach its highest level since December. Japan's Nikkei 225 index ended the session down by 0.1 per cent at 15,328.56 points.