Markets rebound on US gains, lower oil

HONG KONG, Apr 13 (Reuters) Asian stock markets rose today with Tokyo snapping three straight days of declines as exporters gained on the back of a stronger US dollar and lower oil prices.

Data showing a smaller-than-expected US trade deficit helped shore up the dollar, while oil prices eased after a US government report revealed crude stockpiles at nearly 8-year highs.

US crude was at .16 in early Asian trade, well down from a peak of .60 set a day earlier.

Tokyo's Nikkei average climbed 0.19 percent by 0020 GMT helped by a rebound in exporters such as Sony and Canon Inc, gains in chip equipment maker Advantest Corp and electronics components maker Kyocera ''The market is expected to stop falling after a recovery in US stocks,'' said Hiroichi Nishi, general manager of equity marketing at Nikko Cordial Securities.

''Concerns about an overheated market have eased in the past three sessions in which the Nikkei fell 401 points.'' Australian shares were also firmer in a shortened session ahead of the four-day Easter weekend holiday with the key S&P/ASX 200 index up 0.33 percent.

Among the early gainers were global mining giant BHP Billiton , up 1.4 percent, and some of the big four domestic banks such as Westpac Banking Group, up 0.7 percent.

South Korea's key KOSPI inched 0.12 percent higher after earlier slipping into negative territory, as steel maker POSCO added 2.0 percent and Hynix Semiconductor put on 1.0 percent.

''US earnings have been positive so far, and higher than market expectations, while the U.S. dollar rose because of a decrease in the trade deficit. This is all very helpful,'' said Kim Joong-hyun, an analyst at Goodmorning Shinhan Securities, adding that a fall in oil prices was also positive.

On Wednesday, US blue chip stocks rose 0.36 percent after stronger-than-expected results from Circuit City Stores Inc. lifted hopes that corporate earnings will be strong, while the tech-laden Nasdaq Composite Index added 0.19 percent.

REUTERS DH BD0656