Most Asian markets extended gains Wednesday, with Japanese shares lifted by technology companies such as Advantest Corp. and Elpida Memory Inc. after chipmaker Intel Corp. issued an upbeat forecast overnight in the U.S., while higher crude oil prices buoyed energy stocks such as Woodside Petroleum in Sydney.
Hong Kong's Hang Sang Index dipped 22.98 points, or 0.1 per cent, to 23,878.35, while the Shanghai Composite Index fell 1.7 per cent, or 56.75 points, to 3,291.59.
Data released by China's National Bureau of Statistics showed the country's consumer price index rose 8.3% in March from the same month a year-ago. Official data also showed the country's economic growth eased to 10.6% in the first quarter of 2008 from the year-ago period, reflecting the impact of severe weather conditions in the first two months of the year.
Japanese stocks were lifted by tech shares on hopes for improvement in the chip sector after U.S. giant Intel Corp. posted strong first quarter results. The benchmark Nikkei 225 stock index rose 1.2 per cent to 13,146.13.
Tokyo Electron Ltd. rose 5.2 per cent and Shinko Electric Industries Co. climbed 9.9 per cent. Sony Corp. added 3.5 per cent and Canon Inc. gained 2.6 per cent to 4,710 yen.
Electric Power Development Co., or J-Power, rose 1.1 per cent, shrugging off local reports that the Japanese government will likely reject plans by the U.K.'s The Children's Investment Fund to raise its stake in the company.
Elsewhere:
Australia's main index rose 1.3 per cent to 5,740.3.
New Zealand's NZX 50 index gained 0.4% to 3,516.67.
South Korea's Kospi advanced 0.9 per cent to 1,758.56.
Tawain's benchmark index climbed 1.6 per cent to 9,066.04.
with files from other wire services
