Investing.com – Asian stocks posted sharp gains on Wednesday, with financial sector stocks among the bigger gainers in Japan, while property developers and commodities led gains in Hong Kong.
Hong Kong's Hang Seng Index climbed 1.22%, South Korea's Kospi Composite gained 1.33%, while Japan’s Nikkei 225 Index surged 1.81%.
Earlier in the day, Japan’s financial regulator said it was not considering imposing a capital surcharge on major lenders beyond the existing levels of the Basel III capital requirements.
Following the announcement, shares in Japan’s third-biggest bank Mizuho Financial Group soared 8.62%, stocks of the nation’s largest lender Mitsubishi UFJ Financial Group jumped 2.56% and rivals Sumitomo Mitsui Financial Group saw its shares gain 1.80%.
Meanwhile, shares of big-name Japanese exporters were mixed on the day, as the yen weakened against the dollar. Electronics giant Sony gained 0.92%, Honda Motor stocks rose 0.33%, digital-camera maker Canon Inc. shed 0.63% while Nissan Motor saw its shares slide 2.40%.
In Hong Kong, property developers led gains, as shares in Hong Kong's biggest property developer Sun Hung Kai Properties climbed 1.43%, shares in rivals Cheung Kong Holdings added 1.04% and Hang Lung Properties soared 4.76%.
Elsewhere, commodity sector stocks posted gains amid rising crude oil and metal prices. Shares in China Shenhua Energy surged 2.21%, Cnooc Limited, China’s largest offshore oil producer climbed 2.26% while Zhaojin Mining Industry Company saw its shares gain 3.39%.
In Europe, equity markets opened higher. The EURO STOXX 50 was up 0.83%, France’s CAC 40 gained 0.85%, the FTSE 100 rose 0.73% and Germany's DAX advanced 0.70%.
Later in the day, the euro zone was to release final data on its GDP.
Hong Kong's Hang Seng Index climbed 1.22%, South Korea's Kospi Composite gained 1.33%, while Japan’s Nikkei 225 Index surged 1.81%.
Earlier in the day, Japan’s financial regulator said it was not considering imposing a capital surcharge on major lenders beyond the existing levels of the Basel III capital requirements.
Following the announcement, shares in Japan’s third-biggest bank Mizuho Financial Group soared 8.62%, stocks of the nation’s largest lender Mitsubishi UFJ Financial Group jumped 2.56% and rivals Sumitomo Mitsui Financial Group saw its shares gain 1.80%.
Meanwhile, shares of big-name Japanese exporters were mixed on the day, as the yen weakened against the dollar. Electronics giant Sony gained 0.92%, Honda Motor stocks rose 0.33%, digital-camera maker Canon Inc. shed 0.63% while Nissan Motor saw its shares slide 2.40%.
In Hong Kong, property developers led gains, as shares in Hong Kong's biggest property developer Sun Hung Kai Properties climbed 1.43%, shares in rivals Cheung Kong Holdings added 1.04% and Hang Lung Properties soared 4.76%.
Elsewhere, commodity sector stocks posted gains amid rising crude oil and metal prices. Shares in China Shenhua Energy surged 2.21%, Cnooc Limited, China’s largest offshore oil producer climbed 2.26% while Zhaojin Mining Industry Company saw its shares gain 3.39%.
In Europe, equity markets opened higher. The EURO STOXX 50 was up 0.83%, France’s CAC 40 gained 0.85%, the FTSE 100 rose 0.73% and Germany's DAX advanced 0.70%.
Later in the day, the euro zone was to release final data on its GDP.