Market Report - Asia up on Dubai

Dubai's efforts to restructure about $26 billion in debt comforted regional investors Tuesday, while a sudden Bank of Japan meeting boosted Japanese shares.

HSBC, which loaned Dubai World almost $20 billion, rose in Hong Kong after the development firm unveiled a restructuring plan.

In Hong Kong, China Eastern Airlines rose after it won approval from regulators to take over Shanghai Airlines to create the nation's second biggest carrier.

In Japan, exporters such as Nissan rose after the Bank of Japan announced an emergency policy meeting, causing speculation the central bank may seek to limit the yen's gains.

The Bank of Japan says foreign exchange market instability could pose a risk to Japan's economy, but left interest rates unchanged.

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