Investing.com - Asian stock markets were mixed during late Asian trade on Wednesday, with Japan outperforming the region as market players awaited the outcome of this week’s Bank of Japan policy meeting.
During late Asian trade, Hong Kong's Hang Seng Index dipped 0.2%, Australia’s ASX/200 Index ended down 0.6%, while Japan’s Nikkei 225 Index rallied 3%.
In Tokyo, the Nikkei rose sharply to erase a two-day loss of almost 3%, as the yen weakened against the U.S. dollar, buoying exporters.
A weaker yen reduces the value of overseas income at Japanese companies when repatriated, boosting the outlook for export earnings.
Automakers Mazda and Honda surged 6.5% and 4.6% respectively, while Nissan and Toyota added 3.8% apiece.
Also contributing to gains, index heavyweight Fast Retailing saw shares soar 13.9% after posting record high same-store sales for March at its Uniqlo casual-clothing chain.
Elsewhere, in Australia, the benchmark ASX/200 Index edged lower as miners came under pressure after gold and copper prices fell in New York.
Newcrest Mining saw shares tumble 3%, Alumina declined 2.8%, while iron ore producer Fortescue Metals Group slumped 3.4%.
Meanwhile, in Hong Kong, the Hang Seng swung between modest gains and losses as investors digested data showing an improving Chinese service sector.
HSBC’s services Purchasing Managers’ Index rose to a six-month high of 54.3 in March, while the official version of the services PMI rose to 55.6 in March from 54.5 in February.
Weakness in raw material producers weighed, with Aluminum Corporation of China, or CHALCO, down 1.7%, while copper producer Jiangxi Copper Company and gold miner Zijin Mining Group lost 1.8% and 2.3% respectively.
Looking ahead, European stock market futures pointed to a lower open, after weak manufacturing and employment data from the euro zone fuelled concerns over the outlook for first quarter growth.
The EURO STOXX 50 futures pointed to a loss of 0.6% at the open, France’s CAC 40 futures declined 0.6%, London’s FTSE 100 futures dipped 0.3%, while Germany's DAX futures pointed to a drop of 0.3% at the open.
The euro zone was to publish preliminary data on consumer price inflation later Wednesday.
The U.S. was to release the ADP nonfarm payrolls report, while the Institute of Supply Management was release a report on U.S. service sector activity.
During late Asian trade, Hong Kong's Hang Seng Index dipped 0.2%, Australia’s ASX/200 Index ended down 0.6%, while Japan’s Nikkei 225 Index rallied 3%.
In Tokyo, the Nikkei rose sharply to erase a two-day loss of almost 3%, as the yen weakened against the U.S. dollar, buoying exporters.
A weaker yen reduces the value of overseas income at Japanese companies when repatriated, boosting the outlook for export earnings.
Automakers Mazda and Honda surged 6.5% and 4.6% respectively, while Nissan and Toyota added 3.8% apiece.
Also contributing to gains, index heavyweight Fast Retailing saw shares soar 13.9% after posting record high same-store sales for March at its Uniqlo casual-clothing chain.
Elsewhere, in Australia, the benchmark ASX/200 Index edged lower as miners came under pressure after gold and copper prices fell in New York.
Newcrest Mining saw shares tumble 3%, Alumina declined 2.8%, while iron ore producer Fortescue Metals Group slumped 3.4%.
Meanwhile, in Hong Kong, the Hang Seng swung between modest gains and losses as investors digested data showing an improving Chinese service sector.
HSBC’s services Purchasing Managers’ Index rose to a six-month high of 54.3 in March, while the official version of the services PMI rose to 55.6 in March from 54.5 in February.
Weakness in raw material producers weighed, with Aluminum Corporation of China, or CHALCO, down 1.7%, while copper producer Jiangxi Copper Company and gold miner Zijin Mining Group lost 1.8% and 2.3% respectively.
Looking ahead, European stock market futures pointed to a lower open, after weak manufacturing and employment data from the euro zone fuelled concerns over the outlook for first quarter growth.
The EURO STOXX 50 futures pointed to a loss of 0.6% at the open, France’s CAC 40 futures declined 0.6%, London’s FTSE 100 futures dipped 0.3%, while Germany's DAX futures pointed to a drop of 0.3% at the open.
The euro zone was to publish preliminary data on consumer price inflation later Wednesday.
The U.S. was to release the ADP nonfarm payrolls report, while the Institute of Supply Management was release a report on U.S. service sector activity.