Asian stocks join global rally amid stimulus hopes

The stocks on the Asian bourses advanced this Wednesday, tracking the risk-on rally in its European and American peers, as renewed optimism emerged in the markets that the central banks’ and governments will step up measures to combat the Brexit-led economic fallout.

ANZ economists noted, "This is the first bit of relief for markets as positioning improve following the UK’s leave vote. Investors appear to be taking stock and pondering the long game, as well as having expectations of continued central bank support."

Moreover, higher gold and oil prices boost the mining and energy stocks, the retail and exports-oriented stocks ignored a relatively stronger yen.

Nikkei resilient to stronger yen

The Japanese benchmark index, the Nikkei 225 jumps +1.44% to 15,543, completely unperturbed by a weaker USD/JPY, down -0.28% on the day. The Australian markets also follow suit, with the ASX 200 index rising 0.67% to 5,137.

The Chinese equities trade on the front foot, with the benchmark Shanghai Composite index advancing +0.53% and regains 2,900 levels; the CSI300 index also gains +0.47%. While, Hong Kong’s Hang Seng rallies +0.86% to 20,350 points.