Forex Pros – Asian stocks were mixed on Wednesday, as shares in the financial sector led markets higher, while Japanese exporters gained as the yen weakened against the U.S. dollar.
During late Asian trade, Hong Kong's Hang Seng Index was down 0.48%, South Korea's Kospi Composite gained 1.05%, while Japan's Nikkei 225 Index jumped 1.40%.
In Japan, shares in the financial sector led gains following a report that said most major Asian banks will be exempt from stricter global banking regulations.
Shares in Japan's largest lender Mitsubishi UFJ Financial Group surged 4.24%, Japan's third-largest lender Mizuho Financial Group soared 7.63%, while Sumitomo Mitsui Financial Group saw shares jump 5.86%.
Elsewhere, shares in many of the big name Japanese exporters gained as the yen weakened against the U.S. dollar.
Electronics giant Sony saw shares jump 1.25%, shares in the world's largest camera maker Canon soared 3.10%, while shares in automaker Toyota leaped 2.31%.
Meanwhile, in Hong Kong, property developers led declines amid concerns that China may introduce monetary policy tightening measures intended to cool property inflation. Shares in Sino Land Company tumbled 2.55%, Sun Hung Kai Properties saw shares fall 1.75%, while shares in Hang Lung Properties plunged 2.13%.
The outlook for European equity markets, meanwhile, was upbeat. The EURO STOXX 50 futures pointed to a gain of 0.14%, France's CAC 40 futures indicated an increase of 0.15%, the FTSE 100 futures pointed to a gain of 0.08% and Germany's DAX futures were up 0.17%.
Later in the day, the U.S. was to release its weekly report on initial jobless claims. The data was being released one day earlier than usual as Thursday was to be a national holiday.
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