Asia-Pacific markets rose Wednesday, tracking gains on Wall Street, as hopes for a rate cut by the Federal Reserve rose, while investors also assessed August inflation data from China.
In Japan, the Nikkei recovered 378.38 points, or 0.9%, to 43,837.67.
In Hong Kong, the Hang Seng zoomed 262.13 points, or 1%, to 26,200.26.
Hong Kong-listed shares of Alibaba Group rose 2.1%, after hitting a near-four-year high earlier in the session. This comes after Chinese humanoid startup X Square Robot announced that it had secured around $100 million in a funding round led by Alibaba Cloud.
Korea’s seasonally adjusted unemployment rate rose slightly to 2.6% in August compared with July’s 2.5%, according to government data. The small-cap Kosdaq rose 0.53%.
Singapore stocks achieved a new record.
CHINA
In Shanghai, the CSI 300 eked upward 9.1 points, or 0.2%, to 4,445.26.
Consumer prices in China fell 0.4% year over year in August, according to data from the National Bureau of Statistics released Wednesday, missing expectations of a 0.2% drop by economists polled by Reuters.
Meanwhile, the producer price index fell 2.9% year over year, in line with expectations and improving from the 3.6% drop in July.
In other markets
In Singapore, the Straits Times index revived 48.89 points, or 1.1%, to 4,346.46.
In Korea, the Kospi gained 54.48 points, or 1.7%, to 3,314.53
In Taiwan, the Taiex index popped 337.41 points, or 1.4%, to 25,192.59.
In New Zealand, the NZX 50 restocked 22.51 points, or 0.2%, to 13,276.24.
In Australia, the ASX 200 progressed 26.89 points, or 0.3%, to 8,830.43
