Tokyo stocks rose to a new seven-year high on Wednesday, helped by a weaker yen.
In Japan, the Nikkei 225 tacked on 57.21 points, or 0.3%, to 17,720.43, its highest level since July 2007.
The U.S. dollar was at ¥119.29, from ¥119.22 late Tuesday in New York. A stronger dollar helps Japanese exporters earning dollars overseas and paying costs in yen at home.
In Hong Kong, the Hang Seng index dumped 225.68 points, or 1%, to 23,428.62,
In Taiwan, the benchmark Taiex recovered most of its post-election losses, led by market heavyweight Hon Hai Precision Industry Co. Ltd. which gained 1.9%.
The Taiex was the strongest performer in Asia Wednesday, before the Nationalist Party’s defeat in Saturday’s local elections.
Australia’s S&P/ASX 200 was up, as energy stocks shook off weaker commodity prices. Light, sweet crude for January delivery fell 3.1% to $66.88 U.S. a barrel on Tuesday on the New York Mercantile Exchange.
Investors there were also looking past data showing the economy grew by a less-than-expected 0.3% in the third quarter from the second, amid a broad downturn in investment across the economy.
Singapore’s Strait Times Index was down, after the stock exchange delayed the start of trading for more than three hours to give brokerages a chance to correct any errors on behalf of clients caused by a software glitch two days earlier.
CHINA
Trading volumes in mainland China swelled to a record high, helping the market extend gains after a measure of Chinese non-manufacturing activity improved.
Shanghai’s CSI 300 index gained 43.61 points, or 1.5%, to 2,967.55,
Trading volume for the Shanghai and Shenzhen markets rose to 897.7 billion yuan ($146.0 billion) from 663.1 billion yuan Tuesday, amid increased interest from investors in margin trading.
Stocks and volumes rose, after China’s official non-manufacturing purchasing managers index edged up to 53.9 in November after dipping to a nine-month low of 53.8 in October. A figure over 50 indicates an expansion in non-manufacturing activity.
The Shanghai benchmark has had a nearly uninterrupted string of daily gains of 1% or more since Nov. 21, when China’s central bank cut interest rates, surprising investors.
On Wednesday, bigger blue-chip stocks outperformed, as they are perceived being among the biggest beneficiaries of fresh fund inflows and accommodative monetary policy.
Top percentage-point gainers among large caps included Kweichow Moutai Co. Ltd., up 2.3%,
China Shenhua Energy Co. Ltd. up 2.2%, and China Merchants Securities, up 3.4%.
In other markets;
Singapore’s Straits Times Index fell 18.94 points, or 0.6%, to 3,303.39
The Taiex index in Taiwan shed 82.92 points, or 0.9%, to 9,034.79
Korea’s Kospi index inched up 4.08 points, or 0.2%, to 1,969.91
New Zealand’s Exchange 50 gained a solid 73.03 points, or 1.3%, to 5,503.07
Australia’s S&P/ASX 200 added 40.56 points, or 0.8%, to 5,312.82.
