Asian markets traded in green in early deals of Wednesday, as the release of weaker-than-expected US economic data spurred optimism over December Federal Reserve interest rate cut. Investor sentiments boosted after the Bank of Korea’s latest survey showed business confidence at its strongest level in more than a year, with both manufacturing activity and consumer-facing sectors continue to grow. Meanwhile, Hong Kong’s exports peaked near a four-year high in October, while imports posted their strongest growth in five months. Japan’s Nikkei soared amidst speculation that the Bank of Japan might raise interest rates next month, amidst softer local currency yen and a firm economic backdrop.
Nikkei 225 surged by 978.48 points or 2.01% to 49,638.00, Hang Seng rose by 170.45 points 0.65% to 26,065.00, Straits Times buoyed by 21.98 points or 0.49% to 4,507.61, Jakarta Composite lifted by 35.50 points or 0.42% to 8,557.39, Taiwan Weighted soared by 377.91 points or 1.40% to 27,290.08, KOSPI Index increased by 96.51 points or 2.50% to 3,954.29, Shanghai Composite added by 5.72 points or 0.15% to 3,875.74, and FTSE Bursa Malaysia higher by 8.93 points or 0.55% to 1,620.67.
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