World markets had solid days on Wednesday in the wake of FOMC minutes that strongly suggested quantitative easing from the U.S. Federal Reserve to prop up America’s economy and solid earnings from Intel provided a small wave for tech stocks to ride upon.
Trading in Japan was also given a boost after data released showed that core private-sector machinery orders had risen 10.1% in August. This information is widely regarded as a leading indicator of corporate capital spending.
In Japan, the Nikkei 225 closed up 14.87 points, or .16%, to 9,403.51.
Tokyo Electron rose 1.3%, Advantest finished up 0.2%, to 1,678 yen. Also riding on the strong machinery data, Komatsu climbed nearly 1% to close at 1,909 yen.
No love loss – Stock that are associated with China had a rough day as data proved slowing import and export activity between the countries. Kubota dropped 1.1% and Hitachi Construction lost .6%.
In a move that some analysts are calling intentional, data was released in China showing a slight decline in trade surplus. Critics complain that this is being done to keep Chinese currency weak, which helps exports. China’s trade surplus fell to $16.88 billion in September as compared to $20.03 billion in August. The September total is the lowest amount in five months. While the figures came in slightly below estimates, they are still viewed as within the ''acceptable range.''
The Shanghai Composite closed up 19.95 points, or .70%, to 2,861.36.
Property stocks hot in China -- Poly Real Estate Group hit the daily 10% trading limit today. China Vanke popped 6.8% and Gemdale closed with gains of 7.3% to CNY7.33.
Banks also produced a host of winners in China on Wednesday. Most notably, Bank of Communications added 2.0% and China Merchants Bank climbed to CNY14.49, a rise of 4.7%.
The Hang Seng rallied after a down day yesterday; gaining 335.99 points to close at 23,457.69.
Elsewhere, the smaller markets joined the rally:
South Korea's Kospi gained .43% to 1,876.15.
Australia's S&P/ASX 200 closed down by .037% to 4,619.900.
India's Sensex charged forward; adding 2.40%.
Malaysia's Kuala Lumpur Composite Index rose 10.40 points to 1,496.97.
Indonesia's Jakarta Composite Index climbed 64.73 points.
Shenzhen Composite gained .722% to 1,229.589.
Taiwan's Taiex added 16.44 points.
Singapore's Straits Times Index climbed by 1.68%.
New Zealand's NZX 50 rose by .03%.
Philippine shares were up .661%.
Shares in Thailand closed up by 1.588%.
