NEW YORK - US stocks have inched higher in early trading as Wall Street awaited a report on homebuilder sentiment. LONDON - European stocks rallied on Tuesday, propelled by news of soaring investor sentiment in eurozone powerhouse Germany. London's FTSE 100 index of leading companies rose 0.96 per cent to 6,379.07 points, while Frankfurt's DAX 30 soared 1.62 per cent to 7,752.45 points, and Paris's CAC 40 jumped 1.88 per cent to 3,735.82 points. Madrid's IBEX 35 index climbed 1.39 per cent and Milan's FTSE MIB added 1.58 per cent. In foreign exchange activity, the European single currency climbed to $1.3380 from $1.3351 late in New York on Monday. The dollar dipped to 93.61 yen from 93.96 yen, while the euro dropped to 125.26 yen from 125.45 yen. HONG KONG - Asian markets have mostly fallen as Tokyo slipped following an uptick in the yen while Chinese shares fell on fears Beijing may act to rein in soaring property prices. With US markets closed for the Presidents' Day public holiday, there were no drivers from New York. Tokyo's benchmark Nikkei 225 slipped 0.31 per cent to end at 11,372.34 on profit-taking and as the yen rose after Japan's finance minister said the central bank's independence was safe for now. Seoul added 0.20 per cent to 1,985.83 and Sydney ended 18.5 points, or 0.37 per cent, higher at 5,081.9. Hong Kong lost 1.02 per cent, or 238.03 points, to 23,143.91, while Shanghai shares closed down 1.60 per cent, or 38.65 points, at 2,382.91 amid fears Beijing may tighten regulations in the sector to try to control home prices. WELLINGTON - The NZX 50 Index rose 29.73 points, or 0.7 per cent, to 4,244.21.