Japanese stocks climbed on Wednesday as the prospect of the European Central
Bank taking further action to stimulate the faltering euro-zone economy boosted investor sentiment.
In Tokyo, the Nikkei 225 regained 391.49 points, or 2.6%, to 15,195.77
In Hong Kong, the Hang Seng index sprinted 315.79 points, or 1.4%, higher to 23,403.97.
Shares in Japanese suppliers to Apple Inc soared, with Foster Electric Co rising 5.4% and Japan Aviation Electronics Industry Ltd jumping 5.8% after the tech giant posted better-than-expected quarterly earnings.
Hong Kong shares had their best daily gain since early September, underpinned by a rally in U.S. shares and optimism the Chinese government will roll out more stimulus to prop up growth.
Oil firms were the biggest gainers. Sinopec ended up 1.5%, China Oilfield Service Ltd. rose 2.8% and PetroChina surged 3%.
Technology shares rallied on the back of strong performances in U.S. peers. Analysts said reports that Tencent Holdings would set up a cross-border online trading platform with a Taiwan company, pushed its shares up by 3.4%.
CHINA
Shanghai’s CSI 300 index faded 14.75 points, or 0.6%, to 2,418.64.
The October HSBC/Markit flash China Purchasing Managers' Index (PMI) is due on Thursday. If factory activity shows signs of slowing, Beijing may introduce additional stimulus measures to bolster growth, analysts said.
Chinese electric carmaker BYD Co Ltd posted its biggest rise in two months after the Chinese government said it would promote wider adoption of new energy vehicles for public transportation to tackle pollution in northern China.
In other markets;
Markets in Singapore were shuttered for holiday
The Taiex index in Taiwan hiked 94.19 points, or 1.1%, to 8,748.83
Korea’s Kospi index moved up 21.69 points, or 1.1%, to 1,936.97
In New Zealand, the NZX 50 picked up 46.58 points, or 0.9%, to 5,279.70
Australia’s S&P/ASX 200 added 60.84 points, or 1.1%, to 5,385.87
