Asian markets were trading mostly in the green on Wednesday following positive cues from US markets overnight. Some support also came in as crude oil prices declined amid easing concerns about military conflict as the U.S. leans towards economic sanctions to pressure Iran. The shift away from military action reduced the perceived risk to Gulf supply. However, traders were reluctant to make more significant bets ahead of key events in the coming days, including key U.S. inflation data and US Fed Chair Kevin Warsh’s debut speech at the annual Jackson Hole conference.
Nikkei 225 surged 516.57 points or 0.78% to 66,373.00, Taiwan Weighted jumped 637.11 points or 1.41% to 45,806.57, Shanghai Composite strengthened 27.39 points or 0.7% to 3,916.83, KOSPI increased 137.22 points or 2.04% to 6,879.96, Hang Seng advanced 196.9 points or 0.77% to 25,708.00 and KLSE Composite rose 13.11 pointsor 0.75% to 1,749.99.
However, Straits Times fell 6.15 points or 0.11% to 5,729.53 and Jakarta Composite was down by 4.91 points or 0.08% to 6,496.76.
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