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Asian stocks rose on Wednesday despite U.S. stocks finishing on a lackluster note overnight. Optimism about more fiscal stimulus and falling coronavirus<\/span> infections rates helped to underpin investor sentiment to some extent. <\/p>\n Chinese shares posted strong gains in the last trading session before the Lunar New Year holiday as the latest inflation and bank lending data underscored a recovery in the world’s second-largest economy<\/span>. <\/p>\n The benchmark Shanghai Composite index jumped 51.60 points, or 1.43 percent, to 3.655.09 while Hong Kong’s Hang Seng index ended up 562.53 points, or 1.91 percent, at 30,038.72.<\/p>\n Consumer prices in China were up 1.0 percent month on month in January, the National Bureau of Statistics said – in line with expectations following the 0.7 percent increase in December.<\/p>\n On a yearly basis, consumer prices fell 0.3 percent – shy of expectations for a flat reading following the 0.2 percent gain in the previous month.<\/p>\n The bureau also said that producer prices rose 0.3 percent year on year in January – missing forecasts for an increase of 0.4 percent after sinking 0.4 percent a month earlier.<\/p>\n China’s new bank loans surged to new highs in January boosted by seasonal demand, while broad credit growth slowed, separate data showed. <\/p>\n Japanese shares edged up slightly to close at a fresh 30-year high, helped by robust corporate earnings.<\/p>\n The Nikkei average inched up 57 points, or 0.19 percent, to 29,562.93, marking its highest finish since Aug. 2, 1990. The broader Topix index closed 0.27 percent higher at 1,930.82. <\/p>\n Automaker Toyota Motor climbed 1.7 percent and auto-parts supplier Denso edged up slightly after start-up Aurora agreed to a long-term strategic partnership with the firms. Nissan Motor surged 3.7 percent after revising its full-year outlook. <\/p>\n Honda Motor soared 5.1 percent as it reported a 144 percent surge in profit for the third quarter and raised its full-year outlook.<\/p>\n Australian markets<\/span> advanced as investors cheered strong domestic earnings reports. The benchmark S&P\/ASX 200 index edged up 35.70 points, or 0.52 percent, to 6,856.90, while the broader All Ordinaries index ended up 31.70 points, or 0.45 percent, at 7,133.80.<\/p>\n Tech stocks followed their U.S. peers higher, with Afterpay climbing 4.2 percent and Wisetech Global adding 2.2 percent. <\/p>\n Commonwealth Bank of Australia, the nation’s largest lender, declined 1.5 percent despite reporting better-than-expected first-half cash profit and declaring a higher dividend. <\/p>\n Insurance Australia Group shares jumped 4.6 percent after the insurer posted impressive half-yearly results. <\/p>\n Northern Star Resources advanced 1.6 percent as the gold miner reported record profit, cashflow and interim dividends in its first-half results.<\/p>\n Viva Energy shares surged 6.3 percent and Origin Energy gained 1.4 percent after oil prices rose for a seventh straight session Tuesday to hit a 13-month high.<\/p>\n In economic news, a government report showed the total number of building permits issued in Australia climbed a seasonally adjusted 10.9 percent month-on-month in December, matching expectations. <\/p>\n Separately, the latest survey from Westpac Bank and the Melbourne Institute showed that a measure of consumer confidence in the country rose 1.9 percent to a reading of 109.1, following the 4.5 percent drop in January.<\/p>\n Seoul stocks gained ground to snap a two-session losing streak, with tech companies and automakers pacing the gainers ahead of the Lunar New Year holiday period, which runs from Thursday to Sunday. <\/p>\n The Kospi average rose 15.91 points, or 0.52 percent, to 3,100.58. Naver rallied 2.2 percent, Hyundai Motor jumped 3.6 percent and its affiliate Kia Motors added 1.8 percent.<\/p>\n New Zealand shares fell notably, with the benchmark NZX-50 index ending down 97.66 points, or 0.76 percent, at 12,830.03, dragged down by utilities. Meridian Energy lost 4.5 percent and Contact Energy gave up 3.8 percent.<\/p>\n U.S. stocks ended on a lackluster note overnight as investors kept an eye on stimulus negotiations and impeachment proceedings. <\/p>\n The Dow Jones Industrial Average edged down marginally and the S&P 500 slipped 0.1 percent after closing higher for six consecutive sessions. The tech-heavy Nasdaq Composite inched up 0.1 percent to a fresh record closing high. <\/p>\n<\/p>\n Business News<\/p>\n<\/div>\n