Asian markets rally, Nikkei ends up 1%

Asian markets rallied smartly on cues from the US markets today.

The Nikkei gained 168.86 points (1.1%) to close at 15,901.34 after briefly topping 16,000 for the first time in two sessions. The index had gained 3% on Monday.

The Hang Seng, which surged 3% (643 points) to 22,239 in morning deals, closed with a gain of 0.6% (134 points) at 21,729.

The Shanghai Composite index closed with a gain of 50 points at 4955.