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coach clutch wallet home sales data helped equities shrug off disappointing PMI data earlier in the day, Gary Yau at Credit Agricole CIB said in a commentary.Japan Nikkei 225 index jumped 1.8 percent to 13,772.98, trading above 13,700 for the first time in nearly five years. South Korea Kospi rose 1 percent to 1,936.83. Australia S 200 added 1.4 percent to 5,087.90.Hong Kong and mainland Chinese stocks also climbed on expectations that the central government might take action to boost the Chinese economy after recent data showed growth lagging in the world No. 2 economy.the macroeconomic situation is still bad, we are expecting there might be some new policy coming out, said Linus Yip, strategist at First Shanghai Securities in Hong Kong.Hong Kong Hang Seng advanced 1.3 percent to 22,088.95. The Shanghai Composite Index rose 0.7 percent to 2,199.41 and the Shenzhen Composite Index rose 1.3 percent to 935.07. Benchmarks in Singapore, Taiwan, Indonesia, Thailand and the Philippines also rose.Among individual stocks, Japanese vehicle maker Mitsubishi Motors Corp. jumped more than 16 percent after raising its group net profit forecast for the year ending March 2013, Kyodo News reported.On Wall Street, corporate earnings propelled all three major indexes higher. The Dow Jones industrial average climbed 1.1 percent, to close at 14,719.46. The S 500 index rose 1 percent to 1,578.78. The Nasdaq composite rose 1.1 percent to 3,269.33. United Parcel Service, Exxon Mobil and Amazon are among the corporations that will do so on Thursday.Benchmark oil for June delivery was up 42 cents to $89.60 per barrel in electronic