(MENAFN- Baystreet) Asia-Pacific markets rose as investors digested the Bank of Japan's landmark shift in monetary policy while awaiting the U.S. Federal Reserve's interest rate decision.
The BOJ on Tuesday raised interest rates for the first time in 17 years and scrapped its yield curve control policy, sending the Nikkei beyond the 40,000 mark for the first time in almost two weeks.
Markets in Japan were closed for holiday Wednesday.
In Hong Kong, the Hang Seng index recovered 13.59 points, or 0.1%, to 16,543.07.
Korean markets were in the green, powered by a 5.63% gain in heavyweight Samsung Electronics. This is Samsung's best day since Sep. 1, 2023.
Australian markets gave up ground, after the country's central bank held rates at 4.35% for the third meeting in a row.
CHINA
In Shanghai, the CSI 300 regained 7.75 points, or 0.2%, to 3,585.38.
The People's Bank of China kept its one- and five-year loan prime rates unchanged at 3.45% and 3.95%, respectively. The one-year LPR acts as the peg for most household and corporate loans, while the five-year LPR is the benchmark for most property mortgages.
In other markets
In Korea, the Kospi index recouped 33.97 points, or 1.3%, to 2,690.14.
In Taiwan, the Taiex index slid 72.75 points, or 0.4%, to 19,784.45.
Singapore's Straits Times Index inched up 3.93 points, or 0.1%, to 3,177.48.
In New Zealand, the NZX 50 gained 14.8 points, or 0.1%, to 11,832.71.
In Australia, the ASX 200 dropped 7.47 points, or 0.1%, to 7,695.76.
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