BANGKOK — Asian shares advanced Wednesday after Wall Street rallied to its best day in more than three weeks as companies reported strong profits for the past quarter.
Tokyo’s Nikkei 225 jumped 2.7% to 27,680.26, while the Hang Seng in Hong Kong gained 1.5% to 20,966.48. In Seoul, the Kospi added 0.7% to 2,386.98. Australia’s S&P/ASX 200 climbed 1.7% to 6,759.80, while the Shanghai Composite index rose 0.7% to 3,303.61.
Shares also rose in India and Taiwan.
China’s central bank kept its loan prime rate steady despite the latest data showing a significant slowdown in growth in the past quarter, when pandemic-related shutdowns in many cities idled businesses and other activity.
“This comes as economic reopening continues to take place albeit at a slower pace, potentially leading to some near-term wait-and-see on economic progress before delivering further cuts ahead,” Jun Rong Yeap…
