On Wednesday, traders witnessed an increase in the trends of Asian stocks; one day after U.S. equities left a considerable dent into the extensive losses sustained during Monday’s session.
A closer look at Asian stock markets on Wednesday indicated that, Japan’s Nikkei 225 climbed 1.01%. This was subsequent to International Monetary Fund raising its GDP growth outlook, for the third largest economy in the world, to 1.6% from a position of 1.2% for this year, and to 1.4% from 0.7% for 2014. Accompanied by a tumbling yen, Japanese stocks have been observed as the best performers in Asia this year.
Hong Kong’s Hang Seng increased 0.24% however, the Shanghai Composite edged lower by 0.08%. With some moderate data points related to U.S. available on Tuesday, the Asian stocks recorded an increase.
Singapore’s Straits Times Index advanced 0.32% whereas S&P 500 futures decreased 0.26%.
South Korea’s Kospi moved lower by 0.32% one day after the country revealed a stimulus program of USD17.2 billion targeted at strengthening the economy there.
Australia’s S&P/ASX 200 increased 1% directed by profits in the major banks and defensive sectors such as staples, in the country. BHP Billiton, the largest mining company in the world, also recovered finishing a two-day slide.
New Zealand’s NZSE 50 advanced 0.95% following statements from Statistics New Zealand that consumer price inflation there had increased to 0.4% in the first quarter from a value of -0.2% in the fourth quarter. There was a general expectation among analysts that New Zealand’s CPI could ascend 0.4% in the fourth quarter.
The U.S. Labor Department stated that the consumer price index had slid 0.2% previous month following a 0.7% rise in the month of February. Not including volatile food as well as energy prices, the CPI indicated an increase of 0.1% previous month.
The U.S. Census Bureau announced that housing starts advanced 7% previous month from February to a value of 1.036 million. In addition, reports presented by Federal Reserve indicated that U.S. industrial production had increased 0.4% in March, moving past expectations for a 0.2% increase after a 1.1% rise last month, which supported oil slightly.