Investing.com - Asian stocks traded broadly higher Wednesday as the region’s equities followed their U.S. counterparts. Japanese exporters helped boost stocks there.
In Asian trading Wednesday, Japan’s Nikkei 225 climbed 1.30% and is positioned for its best close in nearly five years. USD/JPY traded lower after the Bank Of Japan said that Japan’s corporate services price index fell less-than-expected last month. Japan’s CSPI fell to -0.2% last month from 0% in March. Analysts expected Japan’s CSPI to fall to -0.4% last month.
Traders in yen-related pairs will now turn their attention to Friday’s BoJ meeting. Earlier this month, new BoJ Governor Haruhiko Kuroda unveiled a new batch of stimulus measures aimed at engineering inflation in Japan, weakening the yen and propping up the world’s third-largest economy.
Hong Kong’s Hang Seng climbed 0.95% while the Shanghai Composite added 0.37% a day after the an HSBC Holdings/Markit Economics purchasing managers index for China came in at a preliminary 50.5 for April, below analysts' calls for a 51.4 reading.
Australia’s S&P/ASX 200 Index advanced 0.9% after the Australian Bureau of Statistics said the country’s CPI rose 0.4% in the first quarter. Analysts expected an increase of 0.6%.
New Zealand’s NZSE 50 rose 0.43% after the Reserve Bank of New Zealand left the country’s benchmark interest rate unchanged at 2.5%. RBNZ Governor Graeme Wheeler said that New Zealand’s rate of inflation is set to linger near the bottom of the central bank’s 1% to 3% range this year.
Helped in part by the slightly stronger yen, South Korea’s Kospi rose 0.05%. South Korean stocks have been among Asian laggards this year.
Singapore’s Straits Times Index inched up 0.03% while S&P 500 futures dropped 0.16% a day after the benchmark U.S. index soared 1.04%.
In Asian trading Wednesday, Japan’s Nikkei 225 climbed 1.30% and is positioned for its best close in nearly five years. USD/JPY traded lower after the Bank Of Japan said that Japan’s corporate services price index fell less-than-expected last month. Japan’s CSPI fell to -0.2% last month from 0% in March. Analysts expected Japan’s CSPI to fall to -0.4% last month.
Traders in yen-related pairs will now turn their attention to Friday’s BoJ meeting. Earlier this month, new BoJ Governor Haruhiko Kuroda unveiled a new batch of stimulus measures aimed at engineering inflation in Japan, weakening the yen and propping up the world’s third-largest economy.
Hong Kong’s Hang Seng climbed 0.95% while the Shanghai Composite added 0.37% a day after the an HSBC Holdings/Markit Economics purchasing managers index for China came in at a preliminary 50.5 for April, below analysts' calls for a 51.4 reading.
Australia’s S&P/ASX 200 Index advanced 0.9% after the Australian Bureau of Statistics said the country’s CPI rose 0.4% in the first quarter. Analysts expected an increase of 0.6%.
New Zealand’s NZSE 50 rose 0.43% after the Reserve Bank of New Zealand left the country’s benchmark interest rate unchanged at 2.5%. RBNZ Governor Graeme Wheeler said that New Zealand’s rate of inflation is set to linger near the bottom of the central bank’s 1% to 3% range this year.
Helped in part by the slightly stronger yen, South Korea’s Kospi rose 0.05%. South Korean stocks have been among Asian laggards this year.
Singapore’s Straits Times Index inched up 0.03% while S&P 500 futures dropped 0.16% a day after the benchmark U.S. index soared 1.04%.