Most of the Asian equity benchmarks are trading up in the early deals on Wednesday after US stocks closed at record highs overnight as investors shrugged off geopolitical concerns. Crude oil extended gains in Asian trades, rising above the $53 a barrel mark. Meanwhile, Japan's Nikkei share average edged up to a one-year peak in thin trading ahead of the holidays, tracking US shares higher on expectations that US President-elect Donald Trump's policies will stoke growth and inflation. Among the other Asian markets, Shanghai, South Korea, Singapore, Hong Kong, and Indonesia are in positive territory. Bucking the trend, Taiwan and Malaysia are modestly lower.
Nikkei 225 added 36.42 points or 0.19% to 19,530.95, Hang Seng gained 139.31 points or 0.64% to 21,868.37, KOSPI Index rose 2.41 points or 0.12% to 2,044.35, Jakarta Composite increased 3.05 points or 0.06% to 5,165.53, Shanghai Composite jumped 29.48 points or 0.95% to 3,132.36, and Straits Times was up by 5.67 points or 0.19% to 2,916.98.
On the flip side, FTSE Bursa Malaysia KLCI decreased 1.08 points or 0.07% to 1,633.44, and Taiwan Weighted was down by 15.57 points or 0.17% to 9,226.84.