Asian stock markets close midweek with gains

By Gokhan Ergocun

ISTANBUL (AA) - As US markets posted positive signals after this week’s remarks by US Federal Reserve officials, Asian indices closed the midweek with gains.

On Monday, Fed Chair Jerome Powell said the central bank is committed to restoring price stability, even by raising interest rates more "aggressively."

On Tuesday, St. Louis Fed President James Bullard said the Fed needs to move "aggressively" in order to keep record-high inflation under control, while Cleveland Fed President Loretta Mester pointed to a possible 50 basis points hike in the policy rate in May.

Mary Daly, head of the San Francisco Fed, stressed that the Fed should end supportive monetary policy tools.

The Asia Dow, which includes blue-chip companies in the region, rose 59.52 points, or 1.66%, to 3,645 points at the close.

Tokyo's Nikkei 225 stock exchange increased 816.05 points or 3% to 28,040.

The Hang Seng, the benchmark for blue-chip stocks trading on the Hong Kong stock exchange, gained 264.8 points, or 1.21%, to 22,154.

China’s Shanghai Stock Exchange added 11.17 points, or 0.34%, to finish at 3,271.

The Singapore index was up 14.09 points, or 0.42%, to 3,364.

Meanwhile, India's Sensex benchmark was the only index posting decline, down 304.5 points, or 0.53%, to end the day at 57,684.