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Asian stocks mostly higher; Nikkei down 0.02%

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Investing.com - Most Asian stocks are following their U.S. counterparts higher at this hour with just two of the region's major bourses currently in the red.

In Asian trading Wednesday, Japan's Nikkei 0.02% despite USD/JPY trading to the upside. The yen remained under pressure after the new BoJ Governor, Haruhiko Kuroda, reaffirmed his commitment to bold monetary easing to achieve 2% inflation.

Japanese stocks fell modestly because many traded ex-dividend today.

Hong Kong's Hang Seng rose 0.75%, but the Shanghai Composite tumbled 1.25% despite news that reserves set aside to cover bad loans at Chinese banks fell last year. On Tuesday, Agricultural Bank called the level of bad loans in China "manageable."

Australia's S&P/ASX 200 rose 0.4%, helped higher by BHP Billiton, the world's largest mining company. Earlier today, the Reserve Bank of Australia released its Financial Stability Review.

In its 66-page Financial Stability Review released earlier today, RBA noted that Australian banks are strong, but the central bank warned of risks, both foreign domestic.

RBA said the situation in Cyprus serves as a reminder of the political and social challenges tied to banking problems and budget woes.

New Zealand's NZSE 50 climbed 1.1% while South Korea's Kospi advanced 0.54% after the Bank Of Korea said that South Korean Consumer Confidence rose to 104 in February from 102 in January.

Analysts had expected South Korean Consumer Confidence to remain unchanged at 102 last month.

South Korea stocks rose despite threats from North Korea that it will attack the south and the U.S. North Korea's Kim Jong Un put combat forces on high alert, but the U.S. denounced the maneveur.

Singapore's Straits Times Index gained 0.40% while S&P 500 futures are off 0.08% at this writing.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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