Asian Stocks Rise, Japan Lags Behind
Asia-Pacific markets opened mostly higher on Wednesday, following Wall Street's positive performance after the S&P 500 closed at a record high. The gains in the US were supported by major technology stocks like Apple and Microsoft, as investors began to adopt a "wait-and-see" mode ahead of the Fed's interest rate decision and the earnings season for major companies.
In Asia, Australia also edged higher, as markets awaited the release of fourth-quarter inflation, which will provide clues to future policy direction. South Korea was the strongest performer: the Kospi and Kosdaq continued to set new records in early trading, indicating that risk-on sentiment remained strong there.
The difference was Japan. The Nikkei and Topix actually weakened, pressured by the strengthening yen, which hit its strongest level in almost three months against the dollar. Market speculation was rife about potential intervention, and a stronger yen typically makes exporter stocks less comfortable. In Hong Kong, Hang Seng futures pointed higher, contributing to the positive mood in Asia. (asd)
Source: Newsmaker.id
