Major Asian markets got a boost Wednesday on the U.S. Federal Reserve pledge to keep interest rates low for an "extended period" and the Bank of Japan's decision to ease monetary conditions further.
The accommodative stance by the two major central banks spurred stock purchases with financials, commodity producers and property developers in the lead.
The Nikkei 225 index in Tokyo climbed 125.27 points, or 1.2%, to 10,846.98
The Hang Seng Index in Hong Kong vaulted 361.56 points, or 1.7%, to 21,384.49.
In Tokyo, the BoJ left its policy rate at 0.1% and said it will lend another 10 trillion yen ($111 billion U.S.) in three-month funds to banks, in addition to the current limit of 10 trillion yen. The move was widely expected as the BoJ has been under steady political pressure in recent months to help fight deflation.
Shares of Mitsubishi Estate Co. gained 1.7%, Sony Corp. added 1.6% and Mizuho Financial Group gained 1.1%.
Mining and metal stocks gained across the region on improved sentiment, with Australian giants BHP Billiton and Rio Tinto rising 1.3% and 1.6% respectively.
Aluminum Corp. of China jumped 4.2% in Hong Kong and 2.2% in Shanghai, and Zijin Mining moved up 4.7% in Hong Kong and 1.7% in Shanghai.
Pacific Metals gained 2.8% in Tokyo and Korea Zinc Co. was up 0.8% in Seoul.
Credit Suisse analysts wrote in a report that after a recent correction in Macau gaming stocks amid concerns about China's credit-tightening policies, the "risk-reward has turned much more favourable."
Galaxy Entertainment Group surged 6.9% and Melco International Development gained 6.7%, while SJM Holdings soared 7%.
Shares of Sino-Tech International Holdings tumbled nearly 14% after the electronics-component maker agreed to buy a luxury three-story townhouse in the city for 60,215 Hong Kong dollars ($7,720 U.S.) per square foot, among the highest per square foot price paid for a property in Hong Kong.
Financial stocks were leading gains in Taipei after the Financial Supervisory Commission said Taiwan will allow Chinese banks, securities houses and insurers to invest in a single local peer. The regulator also approved local banks, securities houses, and insurers to own a stake in a single Chinese counterpart. Chinatrust Financial Holding gained 2.5% and Cathay Financial Holding jumped 3.6%.
Technology stocks led the South Korean market higher, tracking their U.S. peers.
Samsung Electronics jumped 4.3% and LG Display added 4.5%.
Korea Life Insurance Co. shares added nearly 8% on their debut in Seoul, finishing at 8,850 won ($7.80 U.S.), compared with its initial public offering price of 8,200 won. South Korea's second-largest insurer by premiums had earlier raised 1.78 trillion won ($1.57 billion U.S.), selling about 217.1 million shares.
In the foreign-exchange markets, the U.S. dollar was buying 90.57 yen, compared with 90.22 yen late in New York Tuesday, and 90.37 yen ahead of the BoJ meeting outcome.
The euro was fetching $1.3773 against the dollar versus $1.3776 in late New York trade Tuesday, and 124.84 yen compared with 124.31 yen.
Elsewhere;
Shanghai’s CSI 300 Index progressed 69.94 points, or 2.2%, to 3,273.92.
Korea’s Kospi index ascended 34.85 points, or 0.8%, to 1,682.86
Singapore’s Straits Times Index picked up 22.87 points, or 0.8%, to 2,919.30
Taiwan’s Taiex Index moved upwards 152.21 points, or 2%, to 7,847.84
New Zealand’s NZX Index settled 6.84 points, or 0.2%, however, to 3,200.96
Australia’s S&P/ASX 200 gained 56 points, or 1.2%, to 4,853.20
