Stocks in Australia advanced on Wednesday as most major Asian markets remained closed for holidays.
In Australia, the ASK 200 gained 50.43 points, or 0.8% to 6,375.89, as the heavily weighted financial sub-index Down Under added more than 1.4%.
Shares of Australia’s so-called Big Four banks rose; Australia and New Zealand Banking Group jumped 2.76%, Commonwealth Bank of Australia gained 1.32%, Westpac added 2.29% and National Australia Bank advanced 1.70%.
The Australian dollar changed hands at $0.7049 U.S. after touching an earlier low of $0.7035.
In New Zealand, the NZX 50 retreated 47.41 points, or 0.5%, to 9,966.42
Japan remains on holiday till May 6 to celebrate the enthronement of the country’s Crown Prince Naruhito. Markets in Hong Kong, Shanghai, Singapore, Korea and Taiwan are shuttered for May Day celebrations.
Meanwhile, investors also continue to watch out for developments on the U.S.-China trade front. White House Chief of Staff Mick Mulvaney said Tuesday that the Trump administration’s trade talks with China will be resolved within the next two weeks.
The Japanese yen traded at 111.49 against the U.S. dollar after strengthening from levels above 111.6 in the previous trading session.
