Asia Mixed on Japanese Figures

Shares in Asia-Pacific were mixed on Wednesday, following overnight comments from U.S. Federal Reserve Chairman Jerome Powell, who said he’s resolved to raise rates until inflation comes down.

In Japan, the Nikkei 225 leaped 251.45 points, or 0.9%, to 26,911.20.

Japan’s economy shrank 1% on an annualized basis in January-March as compared with the previous quarter, government data showed Wednesday. That was less than the 1.8% contraction predicted in a poll, according to Reuters.

The Japanese yen traded at 129.15 per U.S. dollar, having held above the 129 level against the greenback for much of the week so far.

In Hong Kong, the Hang Seng Index acquired 41.76 points, or 0.2%, to 20,644.28.

The Australian dollar changed hands at $0.7006, as compared with an earlier high of $0.7046.

In other markets

In Shanghai, the CSI 300 index dropped 13.98 points, or 0.4%, to 3,991.91.

In Taiwan, the Taiex ballooned 240.77 points, or 1.5%, to 16,296.86

In Korea, the Kospi index moved higher 5.54 points, or 0.2%, to 2,625.98.

In Singapore, the Straits Times Index gained 23.46 points, or 0.7%, to 3,225.35

In New Zealand, the NZX 50 rumbled ahead 120.4 points, or 1.1%, to 11,258.28.

In Australia, the ASX 200 gathered 70.13 points, or 1%, to 7,182.66.