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Japan industrial production data lifts stocks Japan industrial production data lifts stocks
(about 2 hours later)
Asia stocks are receiving a lift from stronger-than-expected Japan industrial production and US consumer confidence data hitting a seven-month high.Asia stocks are receiving a lift from stronger-than-expected Japan industrial production and US consumer confidence data hitting a seven-month high.
Manufacturing output in the world's third-largest economy rose by 2.7% in September from a month earlier, beating forecasts for a 2.2% rise.Manufacturing output in the world's third-largest economy rose by 2.7% in September from a month earlier, beating forecasts for a 2.2% rise.
The regional benchmark MSCI Asia Pacific Index rose by 0.4% in Tokyo, marking its fourth day of gains.The regional benchmark MSCI Asia Pacific Index rose by 0.4% in Tokyo, marking its fourth day of gains.
Japan's Nikkei opened 0.3% higher while Australia's ASX 200 rose 0.5%.Japan's Nikkei opened 0.3% higher while Australia's ASX 200 rose 0.5%.
Hong Kong stocks jumped 0.9% and the Shanghai Composite rose 0.2% at the open on Wednesday.
The rises followed an upbeat performance on Wall Street overnight, where the S&P 500 jumped 1.2% to close near a record high.The rises followed an upbeat performance on Wall Street overnight, where the S&P 500 jumped 1.2% to close near a record high.
Investors will now turn their eyes towards a slew of Asian corporate earnings out on Wednesday. Markets will now be watching for the outcome of the Federal Reserve's two-day policy meeting, which finishes today.
Results are expected from PetroChina, Bank of Communications, China Citic Bank, Mitsubishi Motors, GungHo, Yahoo Japan, Hitachi, Nintendo and LG Electronics. The US central bank is expected to leave its key interest rate unchanged and possibly end its bond-buying stimulus programme.
Markets will also be watching out for the end of the Federal Reserve's two-day policy meeting today, where it is expected to leave its key interest rate unchanged and possibly end its bond-buying stimulus programme. Stock movers
Investors will also be digesting a slew of Asian corporate earnings out on Wednesday, including results from PetroChina and Nintendo.
Shares in casino operator Wynn Macau rose 2.6% in Hong Kong after its parent company released better-than-expected earnings despite rising costs.
Wynn Resorts saw revenues of $1.4bn (£869m) in the third quarter, which was higher than estimates because of a revival at its two Las Vegas casinos.
Japan's biggest investment bank Nomura rose as much as 4% in Tokyo after it posted strong quarterly results on Tuesday and announced a second share buyback programme.
British lender Standard Chartered didn't fare as well though. Its Hong Kong-listed shares have fallen to a five-year low after the firm issued a profit warning on Tuesday.