Chinese stocks clocked strong gains Wednesday, after Federal Reserve Chair Janet Yellen said U.S. central bankers should “proceed cautiously” in raising interest rates.
Shanghai’s SSE rose 2.8 percent to finish at 3,001 while Hong Kong’s Hang Seng advanced 2.2 percent to end at 20,803.
Investors in Japan seemed less optimistic, with the Nikkei 225 posting a slide of 1.3 percent to close the session at 16,879.
Gainers included Chow Tai Fook, which rose 2.1 percent to finish at 4.88 Hong Kong dollars, and Esprit, whose shares vaulted 6.8 percent to finish at 7.23 Hong Kong dollars. Luen Thai rose 0.8 percent to end at 1.20 Hong Kong dollars.
Not everyone had a strong day, though. Global Brands slid 2.2 percent to end at 0.920 Hong Kong dollars. Shiseido shed 1.3 percent to end at 2,564 yen.