By Marketwatch and Associated Press
Asian markets advanced Wednesday following strong gains on Wall Street.
The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -0.04% , S&P 500 /zigman2/quotes/210599714/realtime SPX +0.24% and Nasdaq Composite /zigman2/quotes/210598365/realtime COMP +0.43% 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 /zigman2/quotes/210597971/delayed JP:NIK +1.25% closed up 1.8%, while Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +0.10% gained 0.5%. The Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP +0.15% was flat, along with the smaller-cap Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 -0.09% . South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +0.54% advanced 0.1%, and Taiwan’s Taiex /zigman2/quotes/210597977/delayed TW:Y9999 +0.56% gained 0.3%.
Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +0.69% 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 /zigman2/quotes/202054799/delayed JP:6954 +0.83% surged in Tokyo trading, along with SoftBank /zigman2/quotes/207303954/delayed JP:9984 +2.02% and Nintendo . In Hong Kong, Sunny Optical /zigman2/quotes/206687505/delayed HK:2382 +1.05% , CNOOC /zigman2/quotes/203421416/delayed HK:883 +1.16% and AIA /zigman2/quotes/203565558/delayed HK:1299 -1.56% posted strong gains. Samsung /zigman2/quotes/209800866/delayed KR:005930 -0.31% and SK Hynix /zigman2/quotes/206420319/delayed KR:000660 -0.49% advanced in South Korea and Taiwan Semiconductor /zigman2/quotes/207385621/delayed TW:2330 0.00% rose in Taipei trading. Beach Energy /zigman2/quotes/200513631/delayed AU:BPT +1.54% and Westpac /zigman2/quotes/203084975/delayed AU:WBC +0.78% gained in Australia.