Asia stocks echo Wall Street rally as inflation report looms
Asian shares are trading higher, boosted by a rally on Wall Street that came ahead of some potentially market-moving reports scheduled for later in the week
TOKYO (AP) — Asian shares were mostly higher Wednesday, boosted by a rally on Wall Street that came ahead of some potentially market-moving reports due later in the week.
The weak yen also piqued buying sentiment in Japan, as that boosts the earnings of the nation's exporters when converting overseas profits into yen.
Japan's benchmark Nikkei 225 rose 1.1% in morning trading to 26,457.56. Australia's S&P/ASX 200 gained nearly 1.0% to 7,198.40. South Korea's Kospi edged up nearly 0.1% to 2,352.56. Hong Kong's Hang Seng rose 1.5% to 21,642.00, while the Shanghai Composite added 0.3% to 3,180.43.
Shares of Fast Retailing Co., which operates the popular Japanese Uniqlo clothing retailer, rose 1.4% in morning trading after the company announced that it was raising the salaries of its workers by up to 40%.
