Benchmarks in Japan NIK, +0.76% and Taiwan Y9999, +0.83% , which have major tech companies, rose about 0.8% by midday Wednesday. Japanese electronics stocks were among the region’s big gainers, with TDK 6762, +6.58% surging 6.1% to a fresh two-year high.
The Nikkei’s advance came despite the U.S. dollar losing some strength during Asian trading, after outgoing Federal Reserve Chairwoman Janet Yellen said that she is uncertain weak inflation is transitory. “It may be that there is something more endemic or long-lasting here that we need to pay attention to,” Yellen said in a discussion with Mervyn King, the former governor of the Bank of England.
The dollar JPYUSD, +0.241593% was recently around ¥112.30, compared with ¥112.50 earlier Wednesday, but some of that reflects money going into Japanese stocks, said Stephen Innes, head of Asia trading at Oanda.