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Asian equities outside Japan traded higher early Thursday, taking cues from a strong rebound on Wall Street overnight as investors reacted to a dovish statement from the Federal Reserve.
Japanese stocks declined in early trade, bucking the Fed-inspired rally in the US, as the yen strengthened above the 120 handle against the U.S. dollar. The Nikkei 225 first soared above the 19,000 milestone on March 13 and has clinched two 15-year closing highs over the past three sessions.
China’s Shanghai Composite retreated from Wednesday’s seven-year closing high of 3,577, seemingly on the back of profit-taking.
South Korea’s Kospi index retreated from a near six-month high attained at the open as index heavyweights turned negative. Hyundai Motor slipped 0.3 percent, reversing a 2 percent gain, while Samsung Electronics dropped 1.3 percent to drift further away from record highs.
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