Chinese stocks posted strong advances on Wednesday, with the financial sector leading gains.
In Japan, the Nikkei 225 index drooped 85.82 points, or 0.5%, to 17,280.48, after a climb of more than 350 points Tuesday, after the Bank of Japan cut its near-term inflation outlook, while leaving monetary policy unchanged.
The yen strengthened versus the U.S. dollar, trading at ¥117.67, compared with ¥118.70 late Tuesday in New York.
In Hong Kong, the Hang Seng index leaped 401.42 points, or 1.7%, to 24,352.58
CHINA
The Shanghai CS300 index triumphed 152.66 points, or 4.5%, to 3,548.89,
Banks and insurers recovered strongly in Shanghai, with Bank of China Ltd. soaring 9.9%, Industrial and Commercial Bank of China Ltd. leaping 6%, and Agricultural Bank of China Ltd. spiking 5.6%.
Shares of China Life Insurance Co. Ltd. were suspended from trading after a 10% surge, and Ping An Insurance (Group) Company of China popped 9.5% higher.
In other markets;
The Kospi in Korea took on 2.92 points, or 0.2%, to 1,921.23
In Taiwan, the Taiex index added 68.02 points, or 0.7%, to 9,319.71
In Singapore, the Straits Times Index gained 20.44 points, or 0.6%, to 3,354.46
New Zealand’s NZX 50 index gained 39.64 points, or 0.7%, to 5,672.85
Australia’s S&P/ASX 200 leaped 85.71 points, or 1.6%, to 5,393.38
