Local, regional stocks rise ahead of US inflation data

Most Asian stocks edged higher on Wednesday as oil prices extended a decline on receding concerns about another military flare-up between the United States and Iran, while traders were also nervously awaiting Nvidia’s earnings and key US inflation data.

In Hong Kong, the benchmark Hang Seng Index put on 0.56 percent to close at 25,652.

The Hang Seng China Enterprises Index rose 1.05 percent to finish at 8,533, and the Hang Seng Tech Index climbed 0.82 percent to 4,626.

Mainland shares also closed higher, with the Shanghai Composite Index up 0.59 percent to 3,912 and the Shenzhen Component Index gaining 0.69 percent at 13,841.

Shares related to securities and industrial metals led the gains, while sectors including medical services and electrical machinery were among the biggest decliners.

In Japan, the Nikkei 225 advanced 0.62 percent to close at 66,262, recovering from an early decline.

The benchmark Kospi in Seoul also gained ground, finishing 65 points or 0.97 percent higher at 6,808.

Crude fell more than two percent on Wednesday, with Brent back well below US$90 a barrel. (Agencies)