Major stock markets in the Asia-Pacific region traded higher on Wednesday after Bank of Japan (BoJ) Governor Haruhiko Kuroda noted a gradual stabilization of that country's economy. He added the institution he is leading is prepared to implement necessary measures to prevent a further rise in inflation if necessary. Meanwhile, China reported its inflation observed a decline in December. Earlier, United States Federal Reserve Chair Jerome Powell said that the central bank will raise interest rates if needed to halt further growth of inflation.
Japan's Nikkei 225 closed 1.92% higher as the dollar stood flat against the yen at 7:22 am CET to sell for ¥115.3375. South Korea's Kospi advanced by 1.51% at 7:23 am CET. Australia's S&P/ASX 200 traded 0.66% higher at the close.
In mainland China, the Shanghai Composite gained 0.80% at 7:08 am CET. A minute later, the Shenzhen Composite expanded by 1.30%. In Hong Kong, the Hang Seng increased by 2.61% at 7:24 am CET.
