Most of the Asian equity benchmarks are trading up in the early deals on Wednesday, as pessimism about the Greek debt saga receded somewhat, while the dollar strengthened against the yen thanks to higher U.S. debt yields. However, trading volumes are light in the region as some of the markets are closed for the Lunar New Year holiday. Further, the Japanese market touched a fresh eight-year high, with a weaker yen boosting export-oriented stocks. Meanwhile, stock markets in South Korea, Taiwan and China are closed for the Lunar New Year holiday. Among the other markets in the region that are open for trading, Singapore, Hong Kong, and Indonesia are up with modest gains. While, Malaysia is marginally lower.
Nikkei 225 surged 172.34 points or 0.96% to 18,159.43, Hang Seng increased 47.20 points or 0.19% to 24,832.08 , Jakarta Composite gained 53.44 points or 1.00% to 5,390.94 and Straits Times was up by 14.81 points or 0.43% to 3,430.72,
On the flip side, FTSE Bursa Malaysia KLCI was down by 2.22 points or 0.12% to 1,807.87.