Most markets rose Wednesday after China unveiled plans for $137 billion in extra debt to boost infrastructure spending, while oil extended losses on hopes Israel will scale back its plans for a Gaza ground invasion.
Traders tracked a rally on Wall Street that was helped by a strong set of earnings from big-name firms including Coca-Cola, Verizon and 3M that fuelled optimism for the reporting season.
After another painful start to the week, Hong Kong led gains Wednesday after China approved a plan to issue 1 trillion yuan in sovereign bonds to be distributed to local governments to support national disaster prevention and recovery. Bloomberg News reported that President Xi Jinping paid his first known visit to the central bank, indicating the increased focus the
Hong Kong was the stand-out performer Wednesday, jumping more than two percent, while Shanghai, Tokyo, Sydney, Taipei, Manila and Jakarta were also up.
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