SEOUL, October 15 (AJP) - Asian stocks finished broadly higher on Wednesday after dovish remarks from U.S. Federal Reserve Chair Jerome Powell raised hopes for additional monetary easing.
The KOSPI jumped 2.68 percent to close at 3,567.28, while the secondary Kosdaq added 2 percent to 864.72.
Semiconductor shares extended their rally, powering the broader market. Samsung Electronics surged 3.71 percent to a new high of 95,000 won ($66.83), and SK hynix climbed 2.31 percent to 421,000 won. Hanwha Ocean rebounded 1.94 percent to 105,100 won, recovering quickly from the setback following Chinese sanctions on its units.
In China, the Shanghai Composite Index rose 1.2 percent to 3,912.21, even as shares of rare-earth producers such as China Northern Rare Earth Group slumped amid stalled U.S.–China trade talks.
Japan’s Nikkei 225 snapped a multi-day losing streak, rising 1.76 percent to 47,672.67, while Taiwan’s TAIEX advanced 1.8 percent to 27,275.71.
Asian markets found relief after Fed Chair Jerome Powell signaled an end to quantitative tightening, offsetting jitters over renewed U.S.–China tensions and reviving expectations of further rate cuts this year.
Copyright ⓒ Aju Press All rights reserved.
