Investing.com – Asian stocks were broadly up on Wednesday, gaining for a second day, as technology stocks rose boosted by a strong earnings report from Apple but the strong yen remained a drag on Japanese exporters.
Hong Kong's Hang Seng Index was up 0.70%; South Korea's Kospi Composite rose 0.69%; while Japan’s Nikkei shed 0.23%.
Apple stocks gained 2.57% after the company reported a 78% jump in third quarter profits as a result of strong sales of its iPad tablet computer.
Meanwhile, the yen climbed ahead of U.S., Federal Reserve chairman Ben Bernanke's bi-annual report on the economy before Congress, on speculation that the Fed will maintain interest rates at their current level amid signs the economic recovery is slowing.
The Nikkei's losses came after Toyota, a major exporter shed 0.7% and Renesas Electronics fell 2.3%.
BHP Billiton, the world’s largest mining company, advanced 1.2% in Sydney after U.S. building permits rose in June, boosting copper futures.
The outlook for European equity markets, meanwhile, was optimistic: EURO STOXX 50 futures indicated a gain of 0.86%, France’s CAC 40 futures pointed to a rise of 0.96% and Germany's DAX futures indicated a gain of 0.72%.
Later in the day, U.S., Federal Reserve chairman Ben Bernanke was to testify before the Senate Banking Committee in Washington.
Hong Kong's Hang Seng Index was up 0.70%; South Korea's Kospi Composite rose 0.69%; while Japan’s Nikkei shed 0.23%.
Apple stocks gained 2.57% after the company reported a 78% jump in third quarter profits as a result of strong sales of its iPad tablet computer.
Meanwhile, the yen climbed ahead of U.S., Federal Reserve chairman Ben Bernanke's bi-annual report on the economy before Congress, on speculation that the Fed will maintain interest rates at their current level amid signs the economic recovery is slowing.
The Nikkei's losses came after Toyota, a major exporter shed 0.7% and Renesas Electronics fell 2.3%.
BHP Billiton, the world’s largest mining company, advanced 1.2% in Sydney after U.S. building permits rose in June, boosting copper futures.
The outlook for European equity markets, meanwhile, was optimistic: EURO STOXX 50 futures indicated a gain of 0.86%, France’s CAC 40 futures pointed to a rise of 0.96% and Germany's DAX futures indicated a gain of 0.72%.
Later in the day, U.S., Federal Reserve chairman Ben Bernanke was to testify before the Senate Banking Committee in Washington.