"At least now we've got some inspiring news after a long period of non-stop bad news," said one Singapore-based trader.

The stronger Japanese yen and signs of a stabilising Indonesian rupiah also helped sentiment, traders said. "We haven't seen many businesses yet, but if the yen remains strong and the situation in Indonesia doesn't worsen, it could be a good start for the market," the trader said.

News that China's six major copper producers had agreed to cut output by 90,000 tonnes this year supported the upside momentum for copper, but some traders are not convinced that trade from the Far East would improve significantly.

"There is still a lack of funds and demand in all Asian countries," said a trader. Slumping metals demand in Southeast Asia has forced some metals stocks in Singapore to find destinations inIndia.

But slow demand there was unlikely to attract huge imports into a country where non-ferrous metals producers are cutting rates, traders said.