(MENAFN– ecpulse)
Asian stocks were mixed on Wednesday after US President Barak Obama confirmed that a Congressional vote to take military action in Syria will be postponed while optimism over China`s economy continued to boost confidence in Asia.
- The MSCI Asia Pacific Index was little changed at 137.08 as of 13:14 in Tokyo
After Damascus accepted the Russian proposal to put its chemical weapons under international control, demand on the safe haven yen dropped, pushing the Japanese benchmark index its highest level since July 25.
The Japanese yen weakened to a seven-week low against the greenback; sentiment also rose in Japan after Prime Minister Shinzo Abe called on his cabinet on Tuesday to put together a new economic package by the end of this month.
- Nikkei 225 closed 0.01% higher at 14425.07
- Topix closed 0.08% lower at 1189.25
The optimism over China`s economy continues to boost confidence. China’s industrial production, retail sales and exports grew more than expected, adding to signs the world’s second-largest economy is rebounding.
- China’s CSI 300 Index closed 0.32% higher at 2482.89
- Hong Kong’s Hang Seng closed 0.17% lower at 22937.14
Australian stocks traded near the five-and-a-half-year high hit in May as investors continued to cheer China’s data; in South Korea stocks reversed earlier losses after the unemployment rate fell to a four-month low in August while Pyongyang and Seoul agreed to re-open the Kaesong industrial park, also lifting sentiment.
- The S&P/ASX 200 closed 0.64% higher at 5234.39
- Kospi closed 0.49% higher at 2003.85
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