Most of the Asian equity benchmarks are trading higher in the early deals on Wednesday after US stocks closed sharply higher overnight after a volatile session. Concerns about rising bond yields and potentially higher interest rates resulted in a brutal selloff in global markets earlier this week. Meanwhile, Japanese stocks bounced sharply after crumbling to their biggest percentage fall in 15 months the previous day, with all sectors in the black as Wall Street pulled ahead following a punishing sell-off in the preceding days. Among the other Asian markets, Singapore, Hong Kong, Taiwan, Indonesia, and Malaysia are higher. Bucking the trend, Shanghai and South Korea are in negative territory.
Nikkei 225 added 289.42 points or 1.34% to 21,899.66, Straits Times gained 12.44 points or 0.37% to 3,418.82, Hang Seng jumped 386.29 points or 1.26% to 30,981.71, Taiwan Weighted rose 220.98 points or 2.12% to 10,624.98, Jakarta Composite increased 74.35 points or 1.15% to 6,552.90, and FTSE Bursa Malaysia KLCI up by 26.76 points or 1.48% to 1,839.21.
On the flip side, Shanghai Composite dropped 27.21 points or 0.81% to 3,343.44, and KOSPI Index down by 18.68 points or 0.76% to 2,434.63.
