Asian stocks rose for a third day Wednesday, overcoming a bout of weakness at midday, although gains were tempered as investors awaited earnings results from blue-chip companies and a decision on rates from the Federal Reserve.
In Tokyo, financial markets were closed for the Vernal Equinox, a national holiday while Hong Kong's Hang Seng Index rose 159.51 points, or 0.8 percent, to 19,516.41.
China's Shanghai Composite rose 0.8% to a record 3,057.38. The gains come a day after Beijing strengthened rules prohibiting listed companies from using share sale proceeds to purchase stocks.
Shanghai Lujiazui Finance & Trade Zone Development jumped 10 percent. Beijing Huaye Realestate rose 9.7 percent and Shanghai Jinqiao Export Processing Zone Development advanced 5.5 percent.
Elsewhere:
BANGKOK: Thai shares closed down 0.3 percent at 669.56 in lackluster trade, led by losses in banking, energy blue chips.
JAKARTA: Indonesian shares rose 0.2 percent at 1,779.24 amid thin volume, with many investors staying at the sidelines ahead of the U.S. Federal Reserve's meeting.
KUALA LUMPUR: Malaysian shares gained 0.3 percent to end at 1,209.34, on foreign buying interest in blue chips and a strengthening ringgit, but profit taking narrowed gains.
MANILA: Philippine shares advanced, tracking a rise in Philippine Long Distance Telephone Co.'s American depository receipts and gains on Wall Street. The benchmark 30-company Philippine Stock Exchange Index gained 51.09 points, or 1.7 percent, at 3,090.47, after losing 0.07 percent Tuesday.
MUMBAI: Indian shares ended sharply higher, tracking overnight gains in U.S markets and led by banking shares and Bharti Airtel. The Sensex rose 1.9 percent, or 239.94 points, to 12,945.88.
SEOUL: South Korean shares fell, snapping four straight days of gains, led by declines in flat panel maker LG.Philips LCD Co. The Korea Composite Stock Price Index fell 1.32 point, or 0.1 percent, to 1,442.85.
SINGAPORE: The benchmark Straits Times Index closed higher ahead of the U.S. Federal Reserve's interest rate decision that is due overnight. The STI rose 38.81 points, or 1.2 percent, to close at 3155.69 points.
TAIPEI: Taiwanese shares ended with small gains as textiles advanced. The Weighted Price Index of the Taiwan Stock Exchange rose 20.83 points, or 0.3 percent, to close at 7,757.03 in light volume.
WELLINGTON: New Zealand's stocks edged higher and brokers expect the local bourse to continue to drift in coming sessions in the wake of earnings season. The benchmark NZX-50 rose 11 points, or 0.3 percent, to 4,052.51.
SYDNEY: Australian shares shrugged off a positive lead from Wall Street, losing 0.3 percent as investors nervously awaited the outcome of the U.S. Federal Reserve's interest rate-setting policy meeting. The benchmark S&P/ASX 200 index fell 14.7 points to 5,861.9 after hitting 5,906.7 in early trading.
With files from wire services
