Prolonging their previous sessions’ rally, most of the Asian equity indices are trading in the positive trajectory on hopes of US lawmakers reaching a fiscal cliff solution before the deadline. Japanese Nikkei, for the third straight day, is outperforming other Asian peers amid hopes the Bank of Japan will resort to additional monetary easing, however, the gains remained capped after the nation’s exports fell in November from a year earlier to mark the sixth straight month of declines.
Hang Seng rose 155.42 points or 0.69% to 22,650.15, KLSE Composite added 4.44 points or 0.27% to 1,663.88, Nikkei 225 surged 131.54 points or 1.33% to 10,054.55, and Taiwan Weighted was up by 16.92 points or 0.22% to 7,660.66.
On the flip side, Shanghai Composite declined 3.82 points or 0.18% to 2,158.65, Jakarta Composite slipped 17.80 points or 0.41% to 4,283.64 and Straits Times was down by 1.43 points or 0.05% to 3,155.36.
KOSPI Composite remained closed today.