Investing.com – Asian stocks were broadly higher on Wednesday, as shares in the commodity sector led markets higher, while shares in Japanese lenders surged on speculation they will avoid stricter regulations.
During late Asian trade, Hong Kong's Hang Seng Index surged 1.47%, South Korea's Kospi Composite added 0.32%, while Japan’s Nikkei 225 Index climbed 0.02%.
In Japan, shares in the financial sector performed strongly amid speculation that Bank of Japan Governor Masaaki Shirakawa would block regulations unfavorable to the nation’s lenders, following his appointment as vice chairman of the Basel-based Bank of International Settlements, which acts as a bank for the world’s central banks.
Shares in Japan’s largest lender Mitsubishi UFJ rallied 3.62%, shares in rival Mizuho Financial Group surged 3.07%, while the nation’s second biggest bank Sumitomo Mitsui Financial Group saw shares jump 2.67%.
Elsewhere, in Hong Kong, shares in the commodity sector led gains as crude oil and metal prices advanced.
Shares in China’s largest offshore oil producer Cnooc jumped 1.05%, oil and gas giant PetroChina saw shares rally 2.33%, while shares in Jiangxi Copper, the nation’s largest copper producer surged 2.29%.
Meanwhile, Australia’s S&P/ASX 200 Index added 0.29% as miners led gains.
Shares in the world’s largest mining group BHP Billiton surged 1.32%, shares in rival Rio Tinto jumped 1.27%, while shares in the nation’s largest platinum producer Platinum Australia soared 6.78% after it announced that Bank of America bought a 5.4% stake in the company for an undisclosed fee.
The outlook for European equity markets, meanwhile, was upbeat. The EURO STOXX 50 futures pointed to a rise of 0.32%, France’s CAC 40 futures indicated a gain of 0.42%, the FTSE 100 futures pointed to an increase of 0.24%, while Germany's DAX futures were up 0.22%.
Later in the day, the euro zone was to publish official data on industrial production. Elsewhere, the U.S. was to release a flurry of data, with reports on import prices and the federal budget balance while the Federal Reserve was to publish its Beige Book.
During late Asian trade, Hong Kong's Hang Seng Index surged 1.47%, South Korea's Kospi Composite added 0.32%, while Japan’s Nikkei 225 Index climbed 0.02%.
In Japan, shares in the financial sector performed strongly amid speculation that Bank of Japan Governor Masaaki Shirakawa would block regulations unfavorable to the nation’s lenders, following his appointment as vice chairman of the Basel-based Bank of International Settlements, which acts as a bank for the world’s central banks.
Shares in Japan’s largest lender Mitsubishi UFJ rallied 3.62%, shares in rival Mizuho Financial Group surged 3.07%, while the nation’s second biggest bank Sumitomo Mitsui Financial Group saw shares jump 2.67%.
Elsewhere, in Hong Kong, shares in the commodity sector led gains as crude oil and metal prices advanced.
Shares in China’s largest offshore oil producer Cnooc jumped 1.05%, oil and gas giant PetroChina saw shares rally 2.33%, while shares in Jiangxi Copper, the nation’s largest copper producer surged 2.29%.
Meanwhile, Australia’s S&P/ASX 200 Index added 0.29% as miners led gains.
Shares in the world’s largest mining group BHP Billiton surged 1.32%, shares in rival Rio Tinto jumped 1.27%, while shares in the nation’s largest platinum producer Platinum Australia soared 6.78% after it announced that Bank of America bought a 5.4% stake in the company for an undisclosed fee.
The outlook for European equity markets, meanwhile, was upbeat. The EURO STOXX 50 futures pointed to a rise of 0.32%, France’s CAC 40 futures indicated a gain of 0.42%, the FTSE 100 futures pointed to an increase of 0.24%, while Germany's DAX futures were up 0.22%.
Later in the day, the euro zone was to publish official data on industrial production. Elsewhere, the U.S. was to release a flurry of data, with reports on import prices and the federal budget balance while the Federal Reserve was to publish its Beige Book.