Most of the Asian equity counters are trading in the green terrain in early deals on Wednesday, tracking cues from Wall Street where the major averages surged higher overnight on bargain hunting after recent losses. The Japanese market surged higher with some strong earnings reports and bargain hunting lifting prices of several front line stocks. However, gains in the Asian region remained capped, as buying interest remains somewhat subdued amid lingering worries about the outlook for the global economy on the back of recent weak data from the U.S. and China. Among other markets in the Asia-Pacific region, Singapore, Indonesia, Malaysia and South Korea are trading higher, however Hong Kong was trading lower.
Jakarta Composite rose 16.95 points or 0.39% to 4,369.20, KLSE Composite increased 6.07 points or 0.34% to 1,784.90, Nikkei 225 surged 216.39 points or 1.54% to 14,224.86, Straits Times spurted 12.42 points or 0.42% to 2,978.22 and Seoul Composite was up by 7.14 points or 0.38% to 1,893.99.
On the flip side, Hang Seng slipped 3.87 points or 0.02% to 21,393.90 and Taiwan Weighted was down by 200.61 points or 2.37% to 8,261.96.