Almost all the Asian equity benchmarks barring, Nikkei 225, ended higher on Wednesday, following Chinese shares which extended their rally as insurers led gains. Further, the speculation that an interest-rate cut will boost earnings supported the markets. Meanwhile industrial shares gained on prospects for increased investment on bets China's central bank will make further efforts to help lower borrowing costs. China’s benchmark money-market rate fell for a third day after the central bank lowered the interest rate it paid on 14-day repurchase agreements. The Japanese market eased slightly, as investors waited for more US data on jobless claims, durable goods orders, and personal income and spending as well as new home sales and pending homes sales figures due later in the day for fresh clues about the outlook for US interest rates. The safe-haven yen strengthened against the dollar and weighed on the sentiments of the Japanese market.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2,604.35 | 36.75 | 1.43 |
Hang Seng | 24,111.98 | 268.07 | 1.12 |
Jakarta Composite | 5,133.04 | 14.09 | 0.28 |
KLSE Composite | 1,842.17 | 3.61 | 0.20 |
Nikkei 225 | 17,383.58 | -24.04 | -0.14 |
Straits Times | 3,349.66 | 4.67 | 0.14 |
KOSPI Composite | 1,980.84 | 0.63 | 0.03 |
Taiwan Weighted | 9,122.39 | 6.15 | 0.07 |