Most of the Asian equity benchmarks are trading higher on Wednesday, cheering gains in US stock market counting on better than expected earnings results, optimism over next instalment of the US stimulus package after President Joe Biden met with a group of ten Republican Senators who have offered a counterproposal to his $1.9 trillion relief plan. Meanwhile, the investors shrugged of tensions about the retail trading frenzy. Japan’s Nikkei is extending its winning streak to the third straight session with the higher exports amid weaker safe haven yen. Among the other Asian markets, Singapore, Taiwan, China, Indonesia, South Korea and Malaysia are in positive note. Bucking the trend Hong Kong is trading lower.
Nikkei 225 up by 228.72 points or 0.81% to 28,590.89, Straits Times rose by 17.23 points or 0.59% to 2,934.52, Taiwan Weighted widened 53.58 points or 0.34% to 15,813.63, KOSPI Index enlarged 19.29 points or 0.62% to 3,116.10, , Shanghai Composite higher by 6.97 points or 0.20% to 3,540.65, and FTSE Bursa Malaysia KLCI lifted by 5.59 points 0.35% to 1,586.08.
On the flip side, Hang Seng decreased by 137.95 points or 0.47% to 29,110.75.
