Asian shares rose on Wednesday on optimism that Chinese authorities will offer support for its stock markets, which have plummeted to multi-year lows, while a hawkish tilt from the Bank of Japan lifted the yen.
The MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.27% higher. Still, the index is down 5% in January, set for its worst monthly performance since August.
Japan’s Nikkei was 0.68% lower, a day after hitting a fresh 34-year high, and the yen strengthened as traders took note of the Bank of Japan’s hawkish tilt on Tuesday.
