Stocks in Asia rose Wednesday ahead of a U.S. Federal Reserve announcement on quantitative easing and in the wake of a rally on Wall Street.
In Tokyo, the Nikkei 225 surged 224 points, or 1.5%, to 15,553.91, helped by a stronger U.S. dollar and earnings from bellwether companies such as Nomura Holdings and Hitachi Construction Machinery.
In Hong Kong, the Hang Seng index jumped another 299.51 points, or 1.3%, to 23,819.87.
The index was at 23,678.41 on Sept. 26, the last trading day before police tear-gassed students, an event that sparked a backlash against the government and brought hundreds of thousands of protesters to the streets.
Still, the index remains 5.8% off its 2014 peak on Sept 4, as worries about global economic growth, including in China, as well as uncertainty about the launch of a trading program linking Hong Kong and Shanghai continue to weigh.
Meanwhile, the greenback was changing hands at 108.11 yen at the close of trading in Tokyo, rising above ¥108, a level it broke through on Friday for the first time in two weeks. A stronger dollar is generally better for Japanese exporters, as they earn in dollars and spend in yen back home.
Nomura Holdings rose 4.4% after its net profit more than doubled in the second quarter to ¥52.87 billion, well ahead of street expectations. It also announced a share buyback facility worth up to ¥28 billion, or 1.0% of shares outstanding. Hitachi Construction Machinery gained 3.9% after its ¥25.4-billion first-half operating profit came in above its ¥22.0-billion guidance.
CHINA
Shanghai’s CSI 300 index gained 34.73 points, or 1.4%, to 2,451.38, helped by outperformers in the airline sector on expectations of lower fuel costs.
China Eastern Airlines Corp. rose to its 9.9% daily limit, at 3.45 yuan, and China Southern Airlines Co. climbed 4.4% to 3.08 yuan.
In other markets;
Singapore’s Straits Times Index picked up 12.38 points, or 0.4%, to 3,224.03
The Taiex index in Taiwan bolted higher 130.13 points, or 1.5%, to 8,903.68
Korea’s Kospi index regained 35.49 points, or 1.8%, to 1,925.68
New Zealand’s Exchange 50 prospered 17.54 points, or 0.3%, to 5,355.88.
Australia’s S&P/ASX 200 eased 64.92 points, or 0.1%, to 5,447.68
