Asian markets settled mostly higher on Wednesday tracking Wall Streets’ gains overnight as weak US economic data bolstered investor hopes for a Federal Reserve interest rate cut next month. Japanese shares rallied, while Japanese yen strengthened after reports that the Bank of Japan (BoJ) was preparing markets for a potential interest rate hike as soon as December. Seoul shares rose after South Korea Finance Minister Koo Yun-cheol said that the country’s economy is at a turning point that will shape its growth trajectory for decade. He also pledged decisive action to curb excessive volatility in the foreign exchange market. Hong Kong shares marginally gained after the e-commerce giant Alibaba posting better than expected results in the second quarter of the ongoing fiscal. Although, Chinese shares declined as Chinese state-backed property developer Vanke's bonds tumbled, reigniting market concerns about the company's recovery prospects and broader real-estate risks.
| Asian Indices | Last Trade | Change in Points | Change in % |
| Shanghai Composite | 3,864.18 | -5.84 | -0.15 |
| Hang Seng | 25,928.08 | 33.53 | 0.13 |
| Jakarta Composite | 8,602.13 | 80.24 | 0.93 |
| KLSE Composite | 1,624.50 | 12.76 | 0.79 |
| Nikkei 225 | 49,559.07 | 899.55 | 1.85 |
| Straits Times | 4,501.56 | 15.93 | 0.36 |
| KOSPI Composite | 3,960.87 | 103.09 | 2.67 |
| Taiwan Weighted | 27,409.54 | 497.37 | 1.85 |
