Stocks in Asia largely rose on Wednesday, with optimism over the reopening of economies as authorities ease coronavirus-induced lockdown measures.
In Tokyo, the Nikkei 225 popped 288.15 points, or 1.3%, to 22,613.76. The Japanese yen traded at 108.63 per U.S. dollar after seeing an earlier low of 108.84.
The Hang Seng index in Hong Kong gained another 329.68 points, or 1.4%, to 24,325.62, with shares of Chinese tech juggernaut Alibaba soaring 4.5%.
Over in South Korea, the Kospi led gains among the region’s major markets, with shares of industry heavyweight Samsung Electronics skyrocketing 6%. The moves came after South Korea on Wednesday unveiled a 35.3-trillion-won ($29-billion) supplementary budget, raising the total stimulus to 270 trillion won as it battles the economic hit from the coronavirus pandemic.
Shares in Australia also saw gains, as the country’s Gross Domestic Product fell 0.3% in seasonally adjusted terms during the March quarter, according to data released Wednesday by the country’s Bureau of Statistics.
The Australian dollar changed hands at $0.6937, continuing its rally from levels below $0.68 seen earlier this week.
Bank stocks in Asia Pacific also jumped amid the investor optimism. In Hong Kong, shares of HSBC gained 2% while China Construction Bank rose 0.5%.
Meanwhile, Shinhan Financial Group’s stock in South Korea soared 11.7%. Over in Singapore, DBS Group surged 6.83% while Oversea-Chinese Banking Corporation gained 4.1%. Commonwealth Bank of Australia took on 3.3%, and Westpac in Australia jumped 4.4%.
In other markets
In Shanghai, the CSI 300 eked up 0.08 points to 3,983.65.
In Korea, the Kospi rose 59.81 points, or 2.9%, to 2,147
In Taiwan, the Taiex index jumped 192.23 points, or 1.7%, to 11,320.16
In Singapore, the Straits Times Index vaulted 88.76 points, or 3.4%, to 2,700.39.
In New Zealand, the NZX 50 leaped 84.1 points, or 0.8%, to 11,118.27
In Australia, the ASX 200 picked up 106.51 points, or 1.8%, to 5,941.60.
