Asia markets rose sharply, with South Korea in the lead, as investors took comfort from the U.S. Federal Reserve’s decision to leave its benchmark interest rates unchanged, while parsing inflation and trade data from across the region.
In Japan, the Nikkei 225 jumped 348.24 points, or 1.1%, to 31,949.89.
In Hong Kong, the Hang Seng Index hiked 128.81 points, or 0.8%, to 17,230.59.
The Fed on Wednesday again held rates steady amid signs of economic growth, while labour market conditions and inflation remain above the central bank’s target. The decision also included an upgrade to the Fed’s general assessment of the economy.
Data from South Korea showed consumer prices accelerated for the third straight month in October, with the CPI rising 3.8% year-on-year. Economists polled by Reuters were expecting an increase of 3.6%.
Australia’s September goods trade surplus narrowed to its lowest in 32 months, according to official data. Australian markets also progressed, edging close to their highest level in nearly two weeks.
Taiwan jumped, recording its best one-day percentage gain in over nine months.
In other markets
In Shanghai, the CSI 300 dipped 16.84 points, or 0.5%, to 3,554.19.
In Taiwan, the Taiex popped 358.39 points, or 2.2%, to 16,396.95.
In Korea, the Kospi index climbed 41.56 points, or 1.8%, to 2,343.12.
In Singapore, the Straits Times Index gained 5.72 points, or 0.2%, to 3,082.49.
In New Zealand, the NZX 50 soared 193.52 points, or 1.8%, to 11,044.44.
In Australia, the ASX 200 strengthened 61.43 points, or 0.9%, to 6,899.73.