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Asia Markets: Nikkei leads Asian-market gains following Wall Street’s rally

Asian markets advanced in Wednesday following strong gains on Wall Street. Read More...

Asian markets advanced Wednesday following strong gains on Wall Street.

The Dow Jones Industrial Average DJIA, +2.06%  , S&P 500 SPX, +2.14%   and Nasdaq Composite COMP, +2.65%   all rose more than 2% on Tuesday, spurred by comments by Federal Reserve Chairman Jerome Powell that left the door open to an interest-rate cut.

While there was no major news on the U.S.-China trade front, Reuters reported U.S. Treasury Secretary Steve Mnuchin will meet with Yi Gang, governor of the People’s Bank of China, on the sidelines of the G-20 summit in Japan this weekend. It will be the first face-to-face meeting between high-level members of the two countries’ trade-negotiation teams since talks stalled in early May.

Japan’s Nikkei NIK, +1.80% closed up 1.8%, while Hong Kong’s Hang Seng Index HSI, +0.20%   gained 0.3%. The Shanghai Composite SHCOMP, -0.03%   was flat, along with the smaller-cap Shenzhen Composite 399106, +0.04% South Korea’s Kospi 180721, +0.10%   advanced 0.1%, and Taiwan’s Taiex Y9999, +0.31%   gained 0.3%.

Australia’s S&P/ASX 200 XJO, +0.41%   closed up 0.4%. Data showed growth in Australia cooled to its slowest annual pace in almost a decade.

Among individual stocks, robotics maker Fanuc 6954, +2.99%   surged in Tokyo trading, along with SoftBank 9984, +3.02%   and Nintendo 7974, +2.97%  . In Hong Kong, Sunny Optical 2382, +2.47%  , CNOOC 883, +0.16%   and AIA 1299, +1.73%   posted strong gains. Samsung 005930, +1.04%   and SK Hynix 000660, +0.00%   advanced in South Korea and Taiwan Semiconductor 2330, +0.86%   rose in Taipei trading. Beach Energy BPT, +2.84%   and Westpac WBC, +1.36%   gained in Australia.

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