Asian Markets Generally Higher Wednesday after Strong US Data

Asia’s stock markets edged higher in relatively subdued trade on Wednesday after upbeat U.S. economic data bolstered sentiment and provided temporary relief to on-going euro zone worries.

Encouraging economic reports in the U.S pointed to an improving economy and boosted Wall Street overnight. The S&P/Case Shiller home price index logged its biggest year-over-year increase since 2006, while durable goods orders rose over 5 percent in February from a month earlier.

The news put risk back on the table for Asia as Japan’s Nikkei recouped previous losses, Seoul’s Kospi pushed above the 1,980 mark and Australia’s S&P ASX 200 added 0.3 percent thanks to a rebound in resource stocks. Meanwhile, greater Chinese shares outperformed on strong earnings.


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