Hong Kong stocks jumped nearly 2% in the last hour of trading, leading wider gains in the Asia-Pacific region as shares of big Chinese banks surged. Investors looked ahead to key U.S. consumer inflation data for clues on the trajectory of the Federal Reserve’s monetary policy.
In Japan, the Nikkei 225 popped 558.15 points, or 1.8%, to 32,494.66. Markets in Japan and Korea were at their highest levels since Sept. 25.
In Hong Kong, the Hang Seng leaped 345.11 points, or 1.9%, to 17,893.10, up for a sixth straight session.
CHINA
In Shanghai, the CSI 300 gained 34.83 points, or 1%, to 3,702.38.
Central Huijin Investment, China’s sovereign wealth fund, increased its stake in four of the country’s biggest banks late Wednesday in what is seen as a move to renew confidence in its stock market.
Bank Of China rose 2.7%, while the Agricultural Bank of China inched up 0.6%. Shares of Industrial and Commercial Bank of China increased 2.1% and China Construction Bank rose 2.4%.
Central Huijin boosted its stake in each lender by 0.01 percentage points for the first time since 2015.
In other markets
In Taiwan, the Taiex vaulted 153.88 points, or 0.9%, to 16,825.91.
In Korea, the Kospi index climbed 29.74 points, or 1.2%, 2,479.82.
In Singapore, the Straits Times Index reattached 25.82 points, or 0.8%, to 3,218.69.
In New Zealand, the NZX 50 subtracted 13.86 points, or 0.1%, to 11,292.58.
In Australia, the ASX 200 inched higher 2.56 points to 7,090.98.