Asian markets traded mostly higher in early deals on Thursday, as the risk appetite in the market gained as US Federal Reserve hiked benchmark interest rate with no big surprises and on bets that continued slowing of inflation and weaker economic data may prompt policymakers to snap the tightening cycle. Meanwhile, market sentiments boosted after China's Politburo on Wednesday signalled trimming of taxes and fees while flagging plans to boost consumption of autos, electronic products, and household goods. Moreover, affirmed more proactive fiscal stance, prudent monetary policy, and ways to boost business and consumer mood, to stem the wilting economy. Japan’s Nikkei advanced mirroring gains in global indices, although some gains remained capped as monetary policy decision of Bank of Japan is due on Friday.
Nikkei 225 up 205.97 points or 0.63% to 32,874.31, Hang Seng rose by 263.89 points or 1.34% to 19,629.03, Straight times higher by 21.90 points or 0.66% to 3,326.86, Taiwan added by 94.45 points or 0.55% to 17,257.00, KOSPI climbed by 17.25 points or 0.67 to 2,609.61, Shanghai lifted by 14.10 points or 0.44% to 3,237.13, and FTSE Bursa Malaysia KLCI enlarged 3.44 points or 0.24% to 1,452.73.
On the flip side, Jakarta Composite was down by 9.68 points or 0.13% to 6,938.60.
