Asian markets exhibit mixed trend in early deals on Wednesday

Asian equity indices are exhibiting mixed trade in early deals on Wednesday, with investors looking for direction after Wall Street ended roughly flat overnight amid a lack of fresh triggers. On the regional front, the Japanese stock market rose as the yen traded near a seven-year low and bonds dropped on speculation a planned sales-tax increase will be delayed. However, the market pared some gains subsequently after the yen came off its lows. Among other markets in the Asia-Pacific region, Hong Kong, Indonesia and South Korea are modestly higher, while Singapore, Shanghai, Malaysia and Taiwan are trading weak.

Nikkei 225 soared 272.22 points or 1.59% to 17,396.33, Hang Seng increased by 296.02 points or 1.25% to 23,998.06, KOSPI Index spurted by 9.93 points or 0.51% to 1,972.93 and Jakarta Composite was up by 26.54 points or 0.53% to 5,058.83.

On the flip side, Straits Times dropped 2.43 points or 0.07% to 3,289.72, Shanghai Composite tumbled by 7.51 points or 0.30% to 2,462.16, FTSE Bursa Malaysia KLCI declined by 3.55 points or 0.19% to 1,821.56 and Taiwan Weighted was down by 98.27 points or 1.09% to 8,935.87.