Asian equity markets ended mostly higher on Wednesday, with stimulus hopes weakening the yen and triggering a broad rally in Japanese shares. Prime Minister Shinzo Abe said the government will draft a stimulus package worth more than 28 trillion yen to reinvigorate the flagging economy. Revived expectations for additional policy stimulus from the Bank of Japan later this week also boosted investor sentiment. Hong Kong shares ended up after official data showed profits of China's major industrial firms rose 5.1 percent year-over-year in June, bringing the annual growth for the year to date to 6.2 percent. However, Chinese shares slumped on fears of regulatory scrutiny after Chinese President Xi Jinping reportedly called for the prevention of asset bubbles.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2,992.00 | -58.17 | -1.91 |
Hang Seng | 22,218.99 | 89.26 | 0.40 |
Jakarta Composite | 5,274.36 | 49.97 | 0.96 |
KLSE Composite | 1,663.56 | 2.14 | 0.13 |
Nikkei 225 | 16,664.82 | 281.78 | 1.72 |
Straits Times | 2,941.49 | 8.05 | 0.27 |
KOSPI Composite | 2,025.05 | -2.29 | -0.11 |
Taiwan Weighted | 9,063.39 | 38.60 | 0.43 |