Most of the Asian equity benchmarks are trading higher in the early deals on Wednesday. However, some of them gave up early gains with investors looking ahead to the release of U.S. Federal Reserve's October monetary policy meeting. On the regional front, the Japanese stocks rose as investors held out hope for more robust growth after Prime Minister Shinzo Abe delayed a tax hike and called an early election to seek a fresh mandate for his aggressive policies to shore up the economy. Besides, yen dropped to a seven-year low against the dollar too contributed to the upside. Among other markets in the Asia-Pacific region, Singapore, Indonesia, Malaysia and Taiwan are trading higher, while South Korea, Hong Kong and Shanghai are weak.
Nikkei 225 surged by 49.75 points or 0.29% to 17,393.81, Straits Times soared 17.71 points or 0.53% to 3,331.44, Jakarta Composite increased by 16.58 points or 0.33% to 5,119.05, FTSE Bursa Malaysia KLCI improved 7.11 points or 0.39% to 1,825.49 and Taiwan Weighted was up by 104.21 points or 1.18% to 8,963.28.
On the flip side, Hang Seng dropped 67.07 points or 0.29% to 23,462.10, KOSPI Index slipped 5.19 points or 0.26% to 1,961.82 and Shanghai Composite was down by 5.13 points or 0.21% to 2,451.23.
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