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Asian stocks rose broadly on Wednesday, with Japanese markets<\/span> leading regional gains after the Bank of Japan loosened its grip on government bond yields.<\/p>\n Middle East worries persisted and Chinese manufacturing data disappointed, helping limit overall gains in the region.<\/p>\n Purchasing managers’ indexes (PMIs) for China, Japan, South Korea and Australia showed activity shrinking.<\/p>\n Copper prices weakened on a firm dollar as traders awaited the Federal Reserve’s interest rate decision later in the day, with no changed expected.<\/p>\n Gold slipped slightly on dollar strength and amid elevated Treasury yields, while oil recovered some ground ahead of the Fed and Bank of England meetings.<\/p>\n Chinese shares ended on a positive note despite signs of a lackluster economic recovery.<\/p>\n The benchmark Shanghai Composite Index inched up by 0.1 percent to 3,023.08 as the government announced plans to set up a mechanism for resolving local debt risks and managing government debt.<\/p>\n Hong Kong’s Hang Seng index finished marginally lower at 17,101.78 as a private survey showed China’s manufacturing activity contracted in October.<\/p>\n China’s Caixin\/S&P Global manufacturing PMI fell to 49.5 in October from 50.6 in September, marking the first contraction since July and missing analysts’ forecasts of 50.8.<\/p>\n Japanese shares rallied and the yen held near one-year lows against the dollar after the country’s central bank refrained from major changes to stimulus settings a day earlier.<\/p>\n The Nikkei 225 Index jumped 2.4 percent to 31,601.65, marking a two-week closing high. The broader Topix Index soared 2.5 percent to 2,310.68.<\/p>\n Automaker Toyota Motor surged 4.7 percent after nearing tripling its second-quarter profit and raising its full-year earnings guidance.<\/p>\n Seoul stocks posted strong gains, with the Kospi climbing 1.0 percent to 2,301.56 as data showed October exports climbed an annual 5.1 percent after a year of declines.<\/p>\n Australian markets rose notably led by mining and energy stocks. The benchmark S&P\/ASX 200 Index advanced 0.9 percent to 6,838.30 as data showed house prices in the country rebounding to near-record high.<\/p>\n The broader All Ordinaries Index settled 0.8 percent higher at 7,024.60 ahead of the RBA meeting on November 7.<\/p>\n Across the Tasman, New Zealand’s benchmark S&P\/NZX-50 Index jumped 0.9 percent to 10,850.92 after data showed wage inflation slowed in the third quarter – adding to evidence that no more rate hikes are needed.<\/p>\n Meanwhile, the Reserve Bank of New Zealand today warned that pockets of financial stress were growing among households struggling with high debt repayments.<\/p>\n U.S. stocks ended higher overnight but logged losses for a third straight month on concerns about interest rates and Middle East tensions.<\/p>\n In economic news, employment costs unexpectedly accelerated in the third quarter, while consumer confidence declined for a third straight month in October, separate reports showed.<\/p>\n The Dow edged up 0.4 percent, the tech-heavy Nasdaq Composite added half a percent and the S&P 500 climbed 0.7 percent after the U.S. Treasury cut its estimate of how much the government would need to borrow in the fourth quarter. <\/p>\n<\/p>\n Market Analysis<\/p>\n<\/div>\n