Local and regional shares mostly opened higher on Wednesday, led by gains in Seoul, as tech firms bounced back following a softer-than-expected US inflation print that soothed worries about a possible interest rate hike this month.

The mood was also lifted by strong Wall Street earnings, while US President Donald Trump's U-turn on threats to impose levies on cargo through the Strait of Hormuz provided a little support.

The Hang Seng Index gained 210 points, or 0.87 percent, to open at 24,551 points on Wednesday.

Mainland markets opened mixed, with the benchmark Shanghai Composite Index down 0.09 percent to open at 3,963 points. The Shenzhen Component Index opened 0.31 percent higher at 14,970 points.

The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, was up 0.74 percent to open at 3,879 points. The ChiNext Index, together with the Shenzhen Component Index and other indices, reflects the performance of stocks listed on the Shenzhen Stock Exchange.

Elsewhere, the Kospi index in Seoul jumped as much as seven percent at one point. That came on the back of a 10 percent rally in chip giant SK Hynix, which has collapsed around 30 percent since hitting a record high last month.

There were also gains in Tokyo, Sydney and Singapore. (Xinhua & AFP)


Edited by Aaron Tam