Asian stocks mixed ahead of Fed announcement, Nikkei rallies on exports

Asian stocks were mixed on Wednesday ahead of Fed Chairman Ben Bernanke’s speech later in the day. The U.S. Federal Reserve two-day meeting ends today and investors are looking for clues on the outlook for stimulus.

- MSCI Asia Pacific Index advanced 1% to 133.06 as of 15:40 in Tokyo

Nikkei rallied today after a report showed the nation’s shipments surged in May by most since 2010, beating analysts’ estimates. The weaker yen managed to boost the value of overseas income at carmakers and electronics manufacturers.

- Nikkei 225 closed 1.83% higher at 13245.22

- Topix closed 1.86% higher at 1106.57

In Australia stocks rose after a report showed the leading index rose 0.3% in April and amid hopes the U.S. Federal Reserve will maintain its pace of bond buying. The weaker Australian dollar also helped stocks rise today.  

- S&P/ASX 200 closed 0.98% higher at 4861.38

- New Zealand’s NZX 50 closed 0.37% lower at 4445.55

In China and Hong Kong stocks fell amid signs of cash shortage dragging the financial stocks lower, while a report showed that the government may soon expand property tax trials to more cities.

- China’s CSI 300 index closed 0.74% lower at 2400.76

- Hong Kong’s Hang Seng closed 1.13% lower at 20986.89

- Kospi closed 0.65% lower at 1888.31