Global shares cheered on by Intel

By Wayne Cole

SYDNEY (Reuters) - Asian share markets gained for a second session on Wednesday as blockbuster results from tech bellweather Intel (INTC.O) seemed to augur well for the U.S. earnings season and for consumer demand globally.

Intel shares were up over 7 percent in after-hours trading, helping lift Nasdaq futures 2 percent and S&P 500 futures 0.9 percent.

The news stimulated appetite for risk, including leveraged trades in commodity-linked currencies like the Canadian and Australian dollars, while dimming the attraction of lower yielding safe havens like the yen and government bonds.

Base metals prices also gained, though crude oil was stuck around $60 dollar a barrel for a fifth straight session.

Japan's Nikkei .N225 edged up 0.4 percent, while shares elsewhere across the region rose 1.1 percent.

Notably, South Korea's Kospi rose 2.2 percent helped by gains for chip makers Samsung Electronics (005930.KS) and Hynix (000660.KS). The firms' shares rose 4.6 percent and 2.4 percent, respectively.

Australia's S&P ASX 200 share index .AXJO climbed 1.0 percent, having risen 3.5 percent on Tuesday in its biggest daily advance so far this year.

The Australian dollar likewise benefited from a return to risk, rising to a one-week high at $0.7950 and leaving behind Monday's $0.7700 low.