World stocks continued to rally behind the strength of North American markets and the Bank of Japan’s announcement on Monday which ultimately cut interest rates to zero. Commodities continue to skyrocket further assisting in an overall bullish day overseas.
Japan's Nikkei closed up 172.67points, or 1.81%, to 9,691.43.
Real estate firms had a strong day as they continue to see the benefit of the Bank of Japan’s new plan to buy assets. Mitsubishi Estate gained 4.2% and Nomura Real Estate Holdings rose 9.5%.
Financials got it gear after a lackluster start to the day with Nomura Holdings rising 6.9% and Mizuho Financial Group adding 8.6%.
Sumitomo Metal Mining reaped the benefits of rising commodities; shares closed up 7.2%.
On the downside, exporters suffered slightly as the yen gained strength again. Nissan Motor dropped 2.4% and Toyota Motor lost 0.8%.
The Shanghai Stock Exchange was closed Wednesday in observance of a week-long holiday.
Shares in Hong Kong shares stayed bullish, further extending their rally for a third straight session on Wednesday. The resource sector and banks keep climbing as the Hang Seng continues to approach 1-year highs.
The Hang Seng closed up; rising 241.27 points, or 1.07% to 22,880.41.
With gold staying near record levels, shares of Aluminum Corp. of China gained 2.4%, and Cnooc Ltd. rose 2.3%, while Zhaojin Mining Industry Co. rose 3%.
Among financials, HSBC Holdings PLC added 1.36% and Bank of China Ltd rose 2.2%.
Elsewhere, the smaller markets had strong days:
South Korea's Kospi climbed 1.33% to 1,903.95.
Australia's S&P/ASX 200 closed up 1.734% to 4,686.800.
India's Sensex rose .66%.
Malaysia's Kuala Lumpur Composite Index climbed 7.42 points to 1,479.61.
Indonesia's Jakarta Composite Index was a winner again as it rose .33%.
Shenzhen Composite gained 1.681% to 1,169.019. (Data from September 30, 2010. Exchange closed for holiday today.)
Taiwan's Taiex gained 1.02%.
Singapore's Straits Times Index climbed .88%.
New Zealand's NZX 50 closed up by .52%.
Philippine shares were up .596%.
Shares in Thailand climbed 1.003%.
