Asian equity indices are exhibiting mixed trade in early deals on Thursday, tracking cues from Wall Street where the major averages ended on a firm note overnight following a positive reaction to the Fed's decision on interest rates and its views on the economy. Further, China’s premier vowed to ensure the nation’s growth target is achieved too supported the upmove. The Japanese market surged with investors indulging in some hectic buying almost across the board. In the economy news, Japan will see April figures for its all industry activity index, plus final numbers for its leading and coincident indexes. The all industry index is expected to fall 4.1% on month after adding 1.5% in March. Little change is expected from the preliminary readings for the leading and coincident indexes, which were 106.6 and 111.1, respectively. Meanwhile, China’s stocks declined due to the concerns that a property slowdown will hurt economic growth and new share sales will divert funds. Among other markets in the Asia-Pacific region, Hong Kong, Singapore, Malaysia and Taiwan are up marginally, while Shanghai, Indonesia, and South Korea are slightly lower.
Nikkei 225 soared 254.18 points or 1.68% to 15,369.98, Hang Seng increased by 68.84 points or 0.30% to 23,250.56, Taiwan Weighted was up by 35.37 points or 0.38% to 9,315.30, Straits Times surged 3.48 points or 0.11% to 3,280.28 and FTSE Bursa Malaysia KLCI was up by 0.81 points or 0.04% to 1,877.39.
On the flip side, KOSPI Index declined by 1.31 points or 0.07% to 1,988.18, Jakarta Composite contracted 14.05 points or 0.29% to 4,873.81 and Shanghai Composite was down by 10.03 points or 0.49% to 2,045.49.