All the Asian equity indices, barring KLSE Composite, are trading in the positive terrain on Wednesday, with continuing weakness in the yen further fuelling a rally in Japanese Nikkei, while the Dow also provided some lift after ending at a near record high. Meanwhile, South Korean markets also edged higher after the country’s industrial production unexpectedly rose in December as strength in domestic demand offset weakness in exports. However, the gains in the region remained capped as traders are keeping an eye on the United States, where the Federal Reserve is due to end a two-day policy meeting, with investors expecting it to carry on with its loose monetary policy.
Shanghai Composite rose 0.14 points or 0.01% to 2,359.11, Hang Seng increased 161.99 points or 0.68% to 23,817.16, Jakarta Composite surged 12.82 points or 0.29% to 4,451.85, Nikkei 225 soared 107.55 points or 0.99% to 10,974.27, Straits Times jumped 15.97 points or 0.49% to 3,275.72, KOSPI Composite added 0.42 points or 0.02% to 1,956.38 and Taiwan Weighted was up by 14.60 points or 0.19% to 7,816.60.
On the flip side, KLSE Composite was down by 13.34 points or 0.81% to 1,624.00.
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