Most of the Asian equity benchmarks are trading in the green in early deals on Thursday as China’s Yuan headed for its biggest two-day gain in two years and crude oil declining further, however, buying interest is somewhat weak with investors treading cautiously following a flat lead from Wall Street while tracking regional economic data for direction. Japanese stock market was trading higher with a weaker yen triggering some buying in the shares of exporters and automakers after an advisory committee underscored the world’s largest pension fund no longer needs to focus on domestic bonds. The yen is currently trading at 102.51 against the US dollar. While, the China stock market dropped in consecutive trading days, as Finance Minister Lou Jiwei said economic growth below the government’s target is acceptable and investors speculated new share sales will divert funds.
Hang Seng increased 112.86 points or 0.50% to 22,692.64, Jakarta Composite added by 6.66 points or 0.14% to 4,665.83, KLSE Composite strengthened by 2.02 points or 0.11% to 1,831.13, Nikkei 225 soared 169.61 or 1.14% to 15,067.24, Straits Times rose by 12.21 points or 0.39% to 3,128.85 and Taiwan Weighted was up by 72.50 points or 0.84% to 8,705.43.
On the flip side, Shanghai Composite tumbled 2.03 points or 0.10% to 2,051.05 and KOSPI Composite was down by 0.28 points or 0.01% to 1,970.96.