Asian stocks higher at close of trade; Japanese Nikkei 225 hits 29-year high

Asian stocks higher at close of trade; Japanese Nikkei 225 hits 29-year high At the end of today's trading, stock indices of the countries of the Asia-Pacific region (APR) rose thanks to optimistic statistics from China.

Investors also waited for the speech of the head of the US Federal Reserve System (FRS) Jerome Powell in the Senate Banking Committee, according to MarketWatch.

The markets were also supported by hopes that large pharmaceutical companies will soon receive permission to distribute their vaccines against coronavirus infection COVID-19..

Japanese Nikkei 225 Strengthens 1.34% To Close At 29-Year High.

Japan's unemployment rate rose to 3.1% in October after 3% a month earlier and up from 2.4% in the same period a year earlier. The indicator coincided with the expectations of experts interviewed by Trading Economics, and became the highest since May 2017.

Among the top gainers among the index components are NTN Corp., which added 8.3% and Sumco Corp. - 7.1%.

Asia's largest apparel retailer Fast Retailing rose 1.9%, investment technology SoftBank Group - 0.4%.

China's Shanghai Composite Index climbed 1.77%, ending trading at its highest level since February 2018. Hong Kong Hang Seng gains 0.85%.

China's Purchasing Managers' Index (PMI) by Caixin Media Co. and Markit, rose to a ten-year high in November as economic recovery continues to gain momentum following the COVID-19 crisis.

The indicator increased to 54.9 points - the highest value since November 2010 - compared to 53.6 points a month earlier. Experts on average expected it to decline to 53.5 points, according to data from Trading Economics. A PMI reading above 50 points indicates an increase in activity in the sector, below it indicates a weakening. The index has exceeded this mark for seven months in a row.

The official purchasing managers index (PMI) in China's processing industry in November reached its highest level in more than three years - since September 2017, the State Statistical Office (CSO) of China reported on the eve. The indicator climbed to 52.1 points from 51.4 points a month earlier.

Shares of the automaker Geely Automobile Holdings Ltd. grew by 0.5%, Internet giant Tencent Holdings - by 2.7%. At the same time, the price of securities of the online retailer Alibaba (NYSE: BABA) Group Holding Ltd. (SPB: BABA) down 1.6%.

South Korean Kospi Index Strengthens 1.7%.

Market value of one of the world's largest chipmakers Samsung (KS: 005930) Electronics Co. increased by 1.65%, auto maker Hyundai Motor - increased by 1.1%.

Australian S&P / ASX 200 up 1.08% by the end of trading.

The Reserve Bank of Australia (RBA) kept its benchmark interest rate at a record low following its meeting on Tuesday, but signaled increased confidence in the future amid economic recovery.

The base rate remains at 0.1% per annum, the target yield of three-year government bonds is kept at the same level, the RBA said in a statement..

In addition, the RBA has reaffirmed its commitment to the A $ 100 billion ($ 73.42 billion) Quantitative Easing (QE) program announced in November..

Capitalization of the world's largest mining companies BHP and Rio Tinto (LON: RIO) increased by 1.3% and 1.5%, respectively.

Westpac Banking Corp. rose by 0.75%. The bank will need to conduct a third-party liquidity risk management assessment after the local regulator has determined that it has violated liquidity standards due to inappropriate risks.