South Korea’s Kospi hit another record Wednesday as Asia-Pacific markets saw a broad rally, tracking Wall Street gains overnight after oil prices dropped and strong earnings lifted investor sentiment.
Markets in Japan remained closed for holiday. The yen had strengthened more than 1% against the greenback to 156.15 U.S. earlier in the day.
In Hong Kong, the Hang Seng recovered 315.17 points, or 1.2%, 26,213.78.
Signaling diplomatic efforts for resolving the Middle East crisis were on track, President Donald Trump said the U.S. bid to guide ships out of Strait of Hormuz had been paused.
“We have mutually agreed that, while the Blockade will remain in full force and effect, Project Freedom will be paused for a short period of time to see whether or not the Agreement can be finalized and signed,” Trump said in his Truth Social post.
Korean indices achieved a new all-time high Wednesday, building on its more than 70% annual gains as of last close, after markets resumed trading following a holiday. Index heavyweight Samsung Electronics reached a record high, rising over 14% to cross $1 trillion in market-cap.
In other markets
In Shanghai, the CSI 300 index advanced 69.78 points, or 1.5%, to 4,877.09
In Taiwan, the Taiex vaulted 369.56 points, or 0.9%, to 41,138.85.
In Singapore, the Straits Times 50 index eked up 6.77 points, or 0.1%, to 4,927.38.
In New Zealand, the NZX 50 regained 109.5 points, or 0.8%, to 13,145.19.
In Australia, the AZX 200 surged 113.15 points, or 1.3%, to 8,793.60.
