By Virginia Harrison and Nick Godt, MarketWatch
Asian market indexes have shows increases in stock prices
MUMBAI (MarketWatch) — Asia markets rose Wednesday as hopes for a fresh round of stimulus to revitalize the U.S. economy buoyed sentiment, though trading volumes were light, suggesting caution in the markets.
Japan’s Nikkei Stock Average JP:100000018 +1.11% outperformed with a gain of 1.1%, while Hong Kong’s Hang Seng Index HK:HSI +0.53% rose 0.5%. South Korea’s KospiKR:SEU +0.65% gained 0.7% and Australia’s S&P/ASX 200 index AU:XJO +0.22% added 0.2%.
The Shanghai Composite CN:000001 -0.34% bucked the trend, however, slipping 0.4%.
Upbeat U.S. housing data and the prospect of more monetary easing by the Federal Reserve helped to drive Wall Street stocks to five-week highs Tuesday. Read more on the U.S. session.
The U.S. central bank’s Federal Open Market Committee was slated to wrap up a two-day policy meeting later Wednesday, with many analysts expecting the Fed would step in to support the economic recovery through an extension of its “Operation Twist” program. Read a preview of the Fed meeting.
“Markets are edging up on hopes of quantitative-easing-type programs being implemented by the Fed in the next 24 hours,” said Tom Kaan, director equity sales at Louis Capital in Hong Kong.
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