Stocks in Tokyo and Hong Kong registered strong gains on Wednesday as investors bet that the US Federal Reserve will keep its easy money policy on hold for at least a few more months.
It is widely expected that the US central bank will maintain its bond-buying programme after a slewth of sluggish data and concern that the recent government shutdown has damaged the US economic recovery.
The benchmark Nikkei 225 index closed up 176 points at 14,502 in Tokyo, the highest level in a week as the weaker yen encouraged interest in exporters.
The broader Topix added 11 points to 1,204 in strong trading volumes while the Hang Seng rallied 457 points or 2% to 23,304, boosted by Chinese banks.
In earnings news, Japanese car giant Honda moved into focus as it reported third quarter profit that came in below estimates as sales to South east Asia slow. Itsshares rose 1.3%. Toyota was up 1.6%.
Elsewhere, heavyweight SoftBank climbed 2% after a press report said it would likely post a record 70% increase in first half operating profit.
Meanwhile, Toshiba upped its full year operating profit guidance following an increase in memory-chip prices.
In Hong Kong Bank of China rallied 2.2% ahead of its third quarter earnings report. Bank of Communications also added 2.9% before its earnings.
Industrial & Commercial Bank of China reported a 7.6% increase in third-quarter net profit, below estimates.
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It is widely expected that the US central bank will maintain its bond-buying programme after a slewth of sluggish data and concern that the recent government shutdown has damaged the US economic recovery.
The benchmark Nikkei 225 index closed up 176 points at 14,502 in Tokyo, the highest level in a week as the weaker yen encouraged interest in exporters.
The broader Topix added 11 points to 1,204 in strong trading volumes while the Hang Seng rallied 457 points or 2% to 23,304, boosted by Chinese banks.
In earnings news, Japanese car giant Honda moved into focus as it reported third quarter profit that came in below estimates as sales to South east Asia slow. Itsshares rose 1.3%. Toyota was up 1.6%.
Elsewhere, heavyweight SoftBank climbed 2% after a press report said it would likely post a record 70% increase in first half operating profit.
Meanwhile, Toshiba upped its full year operating profit guidance following an increase in memory-chip prices.
In Hong Kong Bank of China rallied 2.2% ahead of its third quarter earnings report. Bank of Communications also added 2.9% before its earnings.
Industrial & Commercial Bank of China reported a 7.6% increase in third-quarter net profit, below estimates.
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