Shares in the Asia-Pacific jumped Wednesday after a sharp bounce in U.S. stocks overnight.
In Japan, the Nikkei 225 vaulted 718.58 points, or 2.7%, to 27,680.26, with Fast Retailing taking on 2.6% and Tokyo Electron up 4.9%.
In company news, Japanese automaker Toyota said its production in August would be around 700,000 units, lower than the previously announced figure of 850,000 units, due to a parts shortage related to Covid disruptions.
Toyota shares were 0.8% higher on Wednesday.
The Japanese yen traded at 138.13 per U.S. dollar, stronger than the levels seen last week.
In Hong Kong, the Hang Seng index improved 229.16 points, or 1.1%, to 20,980.22.
Tencent popped 2.1% and Meituan added 3.9%.
Reserve Bank of Australia Governor Philip Lowe on Wednesday said inflation for the June quarter to be released next week will show a further step-up, and there needs to be a path back to 2% to 3% inflation.
Prices rose 5.1% in the March quarter. In his speech, Lowe also said the neutral nominal rate is at least 2.5%, whereas current rates are at 1.35%.
The Australian dollar was at $0.6919, strengthening from earlier this week.
CHINA
In Shanghai, the CSI 300 rebounded 14.46 points, or 0.3%, to 4,283.80.
China kept its one-year and five-year loan prime rates unchanged at 3.7% and 4.45% Wednesday.
In other markets
In Taiwan, the Taiex picked up 39.14 points, or 0.3%, to 14,733.22.
In Singapore, the Straits Times Index jumped 52.5 points, or 1.7%, to 3,170.29
In Korea, the Kospi regained 15.88 points, or 0.7%, to 2,386.85.
In Australia, the ASX 200 recovered 109.61 points, or 1.7%, to 6,759.21
In New Zealand, the NZX moved forward 36.29 points, or 0.3%, to 11,199.01
