Most of the Asian equity benchmarks are trading in green on Wednesday, as the successful covid vaccine hopes kindled expectations of a swift reopening of the global economy. Asian shares traded higher despite marginal dip in the S&P 500 index and a modestly lower Nasdaq on Tuesday, as vaccine optimism led investors away from market leaders and toward cyclical stocks associated with economic recovery. Oil stocks are gaining in the session as crude oil rates peaked as the optimism over a potential coronavirus vaccine offset demand concerns. Japan’s Nikkei extended its gain to seventh straight session with increased exporting on softer safe haven yen, and the investors are now eyeing on October data for machine tool orders today. Among the Asian markets, Japan, South Korea, Taiwan, Indonesia and China, are in positive side. Bucking the trend, Singapore, Hong Kong and Malaysia are trading lower.
Nikkei 225 up by 447.16 points, 1.80% to 25,352.75, KOSPI Index increased 27.50 points or 1.12% to 2,480.33, Taiwan Weighted rose 148.47 points or 1.13% to 13,230.19, Jakrata Composite increased by 46.27 points or 0.85% to 5,509.01, and Shanghai Composite widened by 2.92 points or 0.09% to 3,363.07.
On the flip side, Straits Times down by 14.66 points 0.54% to 2,690.34, Hang Seng slipped by 10.54 points or 0.04% to 26,290.94, and FTSE Bursa Malaysia KLCI dipped by 13.91 points or 0.88% to 1,561.16.
