10/5, 5:03 AM (Source: TeleTrader)
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Asian stocks trade higher after Australia's easing lifts hopes

Equities in Asia-Pacific traded higher on Wednesday after Australia's smaller-than-expected rate hike eased investors' concerns about recent jumbo-size increases, that are believed to be hindering global economic growth. The RBA's move fueled hopes about other global economies following suit and taking a less aggressive approach to monetary policy tightening.

Japan's Nikkei 225 increased by 0.35% at 4:35 am CET. At 4:40 am CET, South Korea's Kospi Composite inched 0.02% higher, with the dollar adding 0.06% against the yen to go for ¥144.2125 a minute later. At 4:42 am CET, Australian S&P 200 added 1.48% with Hong Kong's Heng Seng surging by 5.05%.

Markets in mainland China are still closed for a national holiday.

Baha Breaking News (BBN) / NL