After witnessing a deep cut in previous session, sentiments turned bearish in the Asian region on Wednesday and the stock markets rebounded after a slew of solid earnings boosted Wall Street and a successful Spanish bond auction eased worries over Europe’s debt crisis. Moreover, an IMF report forecasting global growth would be stronger than first thought too aided the sentiments. Meanwhile, technology and financial shares were boosted by strong earnings in the United States, while the euro and dollar gained against the yen as traders felt confident to buy riskier assets.
China shares ended with a gain of about 2 percentage point, the biggest one-day percentage rise in more than two months, led by finance and property sectors on expectations the government would ease monetary policy while, Tokyo stocks soared 2.14 percent after surges on overseas markets, driven by easing concerns over Europe's debt crisis and the health of the global economy.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2,380.85 | 45.86 | 1.96 |
Hang Seng | 20,780.73 | 218.42 | 1.06 |
Jakarta Composite | 4,166.24 | 8.87 | 0.21 |
KLSE Composite | 1,598.86 | 2.67 | 0.17 |
Nikkei 225 | 9,667.26 | 202.55 | 2.14 |
Straits Times | 3,000.58 | 13.99 | 0.47 |
Seoul Composite | 2,004.53 | 19.23 | 0.97 |
Taiwan Weighted | 7,605.00 | 19.13 | 0.25 |
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