Broader Gains Across the Region as Japanese and **** Markets Hit New Highs;

Asia-Pacific stock markets generally rose, driven by the continued rebound in U.S. technology stocks, with Japan’s and Taiwan’s stock markets hitting record highs.

The People’s Bank of China conducted a seven-day reverse repo operation in the open market, injecting 205.9 billion yuan net on a single day. The Shanghai Composite Index edged down less than 1 point to close at 4,122 points at midday; the Shenzhen Component Index fell 2 points to 14,206 points. Hong Kong’s Hang Seng Index rose 146 points or 0.5% to 27,173 points at midday, with turnover reaching 133.8 billion yuan. Taiwan’s weighted index climbed 595 points or 1.8% to 33,000 points, hitting an intraday high of 33,047 points. Taiwan Semiconductor rose 3%, reaching an intraday high of 1,875 New Taiwan dollars. MediaTek and Hon Hai advanced 1.4% and 0.9%, respectively, while Delta Electronics gained 1.7%.

Japan’s stock market continued to be buoyed by the Liberal Democratic Party’s landslide victory in the general election. The Nikkei 225 Average Index surged 1,221 points or 2.2% to 57,585 points, hitting an intraday high of 57,960 points. SoftBank Group jumped 10.1% after its telecommunications unit raised its business outlook. Defense stocks Kawasaki Heavy Industries and IHI each rose over 6%, fueled by market expectations of increased Japanese military spending. South Korea’s KOSPI Index edged up 4 points or less than 0.1% to 5,302 points. Memory chip maker SK Hynix declined 0.8%, while tech investment firm SK Square dropped 4.3%. Hanwha Aerospace shares fell 6.6% after reporting lower-than-expected revenue and pre-tax profits.

India’s Nifty 50 Index rose 83 points or 0.3% to 25,951 points. Tata Steel surged over 4% after the company announced that its quarterly net profit had surged 7.2 times year-on-year. Australia’s S&P/ASX 200 Index added 13 points or 0.1% to 8,883 points. Mining stocks Rio Tinto, BHP Group Ltd, and gold miner Newmont each rose over 1%, while banking stocks Westpac Banking Corporation and ANZ Group fell 2.7% and 2.6%, respectively. New Zealand’s NZX 50 Index climbed 67 points or 0.5% to 13,513 points.

Singapore’s Straits Times Index dipped 4 points or less than 0.1% to 4,956 points. DBS Group Holdings declined 0.7%, and JMH USD fell 1.8%. Malaysia’s stock market dropped 0.2%, while Indonesia and the Philippines’ stock markets rose 1.1% and 1.6%, respectively. Thailand’s stock market gained 0.3%, Vietnam’s Hanoi Stock Exchange edged down less than 0.1%, and Ho Chi Minh Stock Exchange advanced 0.7%.