Asian Equities Increase as another Record High for Nasdaq

Asian equities mostly rose in morning trade on Wednesday as the Nasdaq closed at a record high for the second straight day in a row.

In Asia, Japan’s Nikkei 225 gained 0.36 percent by 3:35 AM ET. Meanwhile, China’s Shanghai Composite recovered 0.05 percent, while the Shenzhen Component edged up 0.1 percent in morning trade.

Elsewhere, Hong Kong’s Hang Seng Index climbed 0.6 percent, while Australia’s S&P/ASX 200 was up 0.5 percent. South Korean markets were closed for a holiday.

Official data showed on Wednesday that Japanese workers’ real wages were unchanged in April from the same period last year, compared to a revised 0.7 annual increase in March.

Moreover, reports on Tuesday suggested that China offered to increase buying of U.S goods by $25 billion this year.

According to people familiar with the matter, China would step up purchases of crude oil, coal and farm products.

Relevantly, the U.S. trade balance and Australia GDP are due for today, while Japanese Prime Minister Shinzo Abe would meet with U.S. President Trump on Thursday at the White House to discuss the planned U.S. Summit with North Korea’s leader Kim Jong Un.

Additionally, ZTE Corp made headlines following reports that the company has signed a preliminary agreement that would lift a ban on buying from U.S. suppliers. The agreement includes a $1 billion penalty against the company plus $400 million in escrow to cover any future violations.

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