RNECY Renesas Electronics Corp (PK)

Asian shares rebounded Tuesday as fears of a rate increase by the U.S. Federal Reserve that had built up in recent days eased following dovish comments overnight from Fed governor Lael Brainard.

She said that caution by the central bank concerning a rate rise "has served us well in recent months, helping to support continued gains in employment and progress on inflation."

Comments from two other Fed officials also offered hope to markets that the central bank may hold off raising interest rates until at least December.

After their biggest declines since late June on Monday, Australia's S&P/ASX 200 rose 1% and Korea's Kospi gained 0.9%. The Nikkei Stock Average advanced 0.5%.

Overnight, U.S. stocks reversed more than half of their slide on Friday and logged their biggest jump in two months.

Castor Pang, head of research at Core Pacific Yamaichi International, said that the dovish comments from Ms. Brainard helped calm nerves, but "will not help the market recover all the losses, though."

In South Korea, customs data Tuesday showed there was a surge in electronics components and car parts entering the country from Korean-run plants in Vietnam and China. August's trade surplus narrowed more than anticipated, as imports were significantly revised up from earlier estimates.

Samsung Electronics Co. share price rebounded 4.5% after recording its worst day in four years on Monday, and Hanjin Shipping Co. rose 1.2% after the first of its stranded U.S.-bound vessels began off-loading containers in California yesterday.

Elsewhere in Asia, shares of Japanese chip maker Renesas Electronics Corp. initially rose following an agreement to buy U.S. peer Intersil Corp. for $3.2 billion before turning modestly lower. Some market participants raised concerns about the hefty price of the deal and the Japanese company's ability to establish itself as the industry leader in fields such as self-driving cars.

Kosaku Narioka and Kwanwoo Jun contributed to this article.

Write to Kenan Machado at kenan.machado@wsj.com<mailto:kenan.machado@wsj.com>

Write to Kenan Machado at kenan.machado@wsj.com

(END) Dow Jones Newswires

September 12, 2016 23:35 ET (03:35 GMT)

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