European, US recovery hopes shore up markets

Despite the broad market rise, shares in computer maker Dell were down 2.6 percent after the company said it would pay shareholders $13.65 per share to bring the company off the stock market.

Earlier in Asia, markets mostly dropped as they responded to the losses suffered in Europe and the U.S. on Monday.

The regional heavyweight, Japan's Nikkei 225, dropped 1.9 percent to 11,046.92 while Hong Kong's Hang Seng plunged 2.3 percent to 23,148.53.

Australia's S&P/ASX 200 lost 0.5 percent to 4,882.70. The only gainer among major Asian markets was China's Shanghai Composite Index, which added 0.2 percent to 2,433.13.

China's economy is limping out of its deepest slump since the 2008 global crisis but optimism has been tempered by warnings the recovery could be threatened if trade or investment weakens.

A business group, the China Federation of Logistics & Purchasing, said its index of service industry activity rose marginally to 56.2 in January from 56.1 in December. The measure of new orders declined, which ``casts doubt on the strength of the recovery in the service sector,'' said Nomura economist Zhiwei Zhang in a report.

In other markets, the euro was flat at $1.3519, losing early gains after French President Francois Hollande said eurozone governments should help control the value of their shared currency.

The dollar rose 1 percent against the Japanese yen, to 93.27.

Elsewhere, the benchmark crude oil contract for March delivery rose 67 cents to $96.84 per barrel

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