During Asian trading on Tuesday, Hong Kong's Hang Seng Index was up 0.26%, Australia's S&P/ASX200 was up 0.32%, while Japan’s Nikkei 225 Index was down 0.44%.
In the U.S., manufacturing activity grew at a faster clip than forecast last month, with the Institute for Supply Management reporting that its manufacturing index rose to 53.4 in March from 52.4 in February, outpacing expectations for a reading of 53.0.
Readings above 50 indicate a sector in expansion.
The numbers sent investors shorting dollars to free up capital to invest in equities and other riskier assets, sending stocks and commodities rising and the dollar softening.
The news came on the heels of surprisingly strong factory data out of China, which also sent stocks rising and the dollar falling on Tuesday.
The China Federation of Logistics and Purchasing reported earlier this week that its purchasing managers index rose 2.1 points to 53.1 in March, up from February's 51.0 and January's 50.5, according to the Associated Press.
A reading above 50 also signifies expansion.
In Japan, however, investors sold for profits.
Stocks have posted healthy gains in recent trading sessions in Japan, and with the yen taking a break from its weakening trend, traders sold and went long on the Japanese currency. In Hong Kong, top gainers included CHALCO, up 3.00%, Hengan International, up 2.32%, and Tencent, up 2.26%.
In Australia, the top gainers included Gunns Limited, up 5.88%, Mirabela Nickel, up 3.51%, and Adelaide Brighton, up 2.47%.
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