Asian equity benchmarks are trading higher in early deals on Wednesday, catching up with the positive trend in Wall Street overnight with the anticipation for more fiscal stimulus in US. However, Worries about rising coronavirus cases and caution outlook on the political developments in Washington after US Vice President Mike Pence commented that he will not remove President Donald Trump from office, limited some gains. Oil shares are in upward trend in tandem with the surge of crude oil prices almost 2 percent overnight. Japan’s Nikkei, is in higher note with the rise in exporting and a weaker yen. Among the Asian markets, Japan, Hong Kong, Indonesia, Singapore, Taiwan, South Korea, China and Malaysia are in positive territory.
Nikkei 225 up by 310.04 points or 1.10% to 28,474.38, Hang Seng increased by 9.32 points or 0.03% to 28,286.07, Jakarta Composite added 32.92 points or 0.51% to 6,428.59, Straits Times rose by 13.35 points or 0.45% to 2,990.52, Taiwan Weighted widening 249.95 points or 1.61% to 15,750.65, KOSPI Index enlargement 30.85 points or 0.99% to 3,156.80, Shanghai Composite higher by 2.58 points or 0.07% to 3,610.92, and FTSE Bursa Malaysia KLCI lifted by 16.86 points 1.05% to 1,628.90.
