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Most Asian markets traded higher on Tuesday after global shares rebounded, with fears of a banking crisis easing thanks to the sale of fallen lender Silicon Valley Bank.
European stocks had rallied and two of the three main Wall Street indexes advanced the previous day on news that North Carolina-based First Citizens Bank had agreed to take over most of SVB.
The gains were led by rises in bank shares, following a rout last week over concerns that the turmoil in the sector could hit other major institutions, such as German giant Deutsche Bank.
Hong Kong shares were up 0.5 per cent mid-morning, Sydney rallied 1.1 per cent and Seoul rose 0.4 per cent. Jakarta gained 0.3 per cent and Singapore was up 0.3 per cent.
Tokyo finished the morning session almost flat, with Shanghai also little moved, while Taipei dropped 0.8 per cent.
On Monday, the World Bank warned that an anticipated economic slowdown in China is likely to drag global growth down to its lowest level this century as it proposed measures to prevent a "lost decade" of growth.
"We've grown used to China being the tractor of the global economy, and that will have to change because China's growth rate is going to go down over time," World Bank Chief Economist Indermit Gill said.
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