Australian shares returned to positive territory on Tuesday, drawing confidence from a recovery on Wall Street following a chaotic week for equities. The S&P/ASX 200 index rose 0.6 percent or 35.2 points to 5,855.9 at the close of trade, after a 0.3 percent slip on Monday. In Australia, materials were the best performers, led by a 1.2 percent rise in heavyweight BHP Billiton. Rival miner Rio Tinto gained 1.1 percent to settle at a two-week best.
Copper prices climbed for a second day on a weaker dollar and a bounce-back in global equities, while China iron ore and steel futures crept higher ahead of the week-long Lunar New Year break. Top banks in the region posted limited gains amid a government-backed inquiry into Australia's finance sector that began on Monday.
New Zealand's benchmark S&P/NZX 50 index broke a five-session run of losses, rising 0.8 percent or 63.16 points to finish the session at 8,122.22.
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