Asian Stocks Gain; Hang Seng Tacks on 2.1%

SEOUL, South Korea -- Asian stocks rose for a second day Wednesday, underpinned by better-than-expected U.S. earnings and optimism the regional economy is on the mend. European shares were higher.

Gains across the region were broad-based as recent pessimism about economic recovery gave way to relief that the U.S. corporate earnings season hasn't produced any big disappointments so far.

Investors have been focusing on earnings for clues about the state of the world's largest economy, currently mired in its deepest recession in decades. The big rally in world markets between March and June stalled in the past few weeks as data suggested any economic recovery would be a long, hard slog.

Japan's benchmark Nikkei 225 stock average rose 0.1% to 9,269.25 after gaining 2.3% the day before to snap a nine-session losing streak. ...