By V. Phani Kumar, MarketWatch
HONG KONG (MarketWatch) -- Australian stocks advanced Wednesday
after U.S. equities clinched a fourth straight day of gains, while
Japanese shares wavered one day ahead of the central bank's
decision on monetary policy.
Australia's S&P/ASX 200 rose 0.9%, while South Korea's Kospi
fell 0.3%, also turning choppy ahead of the Bank of Korea's
decision on interest rates due Thursday.
The Nikkei Stock Average rose 0.3% in choppy trading in Tokyo
that saw the benchmark fall earlier in the morning. The Nikkei
Average had ended at a six-week high on Tuesday.
U.S. stocks extended their rally Tuesday on an improving
economic outlook, pushing the Standard & Poor's 500 Index (SPX)
closer toward its all-time high, with commodity prices also booking
gains overnight.
Energy shares gained as U.S. benchmark oil prices ended at their
best level in 14 months. Following those gains, Australia's Origin
Energy Ltd. (ORG.AU) climbed 1.4%, and Woodside Petroleum Ltd.
(WOPEY) rose 1% in Sydney, while Inpex Corp. (IPXHF) edged up 0.2%
in Tokyo.
Australian miners also rose after aluminum producer Alcoa Inc.
(AA) played down concerns about a slowdown in China and as gold
prices rose for a second day.
BHP Billiton Ltd. (BHP) and Rio Tinto Ltd. (RIO) rose by 1.9%
each, and Alumina Ltd. (AWC) advanced 2.4%.
Meanwhile, the Tokyo market was weighed by a decline in some
technology shares after recent advances.
Shares of Trend Micro Inc. (TMICY) fell 1.7%, and Toshiba Corp. (TOSYY) eased 1%.
Gains for consumer and retail stocks supported the market,
however, with Suntory Beverage & Food Ltd. rising 3%, and Asahi
Group Holdings Ltd. (ASBRY) climbing 1.5%.
Shares of retailer Aeon Co. (AONNY) gained 2.3% after reporting
an increase in its quarterly profits.
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