Asia Mostly Higher, RBNZ Raises Rates
New Zealand raised its cash rate by another 50 basis points to 3%, the latest in a series of interest rate hikes in an effort to curb inflation.
Elsewhere, Japan stocks surged following better-than-expected export figures and Australian wages rose.
The Nikkei 225 leaped 353.86 points, or 1.2%, to 29,222.77, after the country reported better-than-expected exports growth for July compared with a year ago.
Its exports growth of 19% beat the 18.2% expected by analysts in a Refinitiv poll, driven by a strong recovery in car exports.
In Hong Kong, the Hang Seng index gained 91.93 points, or 0.5%, to 19,922.45.
Korean stocks moved lower, likely due to some profit taking among the major stocks. Among the big losses at market close were Hyundai Motor at 3.8%, Kia at 4% and Seah Steel Holdings at 2.8%.
In Australia, the biggest winners were bank stocks, coal producer Whitehaven Coal and media corporation Seven West Media.
In Shanghai, the CSI 300 fell 7.84 points, or 0.2%, to 4,177.84.
Chinese food delivery giant Meituan shares have risen 3.3%. The move marks a rebound from the 9% plunge Tuesday, which followed a report that Tencent is planning to sell the majority of its $24-billion stake in the company.
Ahead of its second quarter earnings release, Tencent shares were flat.
In other markets
In Taiwan, the Taiex gained 44.38 points, or 0.3%, to 15,465.45.
In Korea, the Kospi index dropped 17.05 points, or 0.7%, to 2,516.47
In Singapore, the Straits Times Index recovered 8.97 points, or 0.3%, to 3,262.78.
In Australia, the ASX 200 added 22.3 points, or 0.3%, to 7,127.68.
In New Zealand, the NZX eked up 5.77 points, or 0.1%, to 11,852.93
Legal Disclaimer: MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.