"Asian Stocks" Asia-Pacific stock markets generally rise, with Japan and Australia leading the gains, while the Indian stock market is stimulated by tax cuts

Asia-Pacific stock markets generally rose, supported by dovish comments from Federal Reserve officials, with significant gains in the Australian and Japanese stock markets, while the Indian stock market was also stimulated by tax reduction plans.

The People's Bank of China conducted a net withdrawal of RMB 203.5 billion through reverse repurchase operations in the open market. The Shanghai Composite Index closed at 3,738 points, down 75 points or 2%; the Shenzhen Component Index closed at 12,176 points, down 295 points or 2.4%. The Hong Kong Hang Seng Index fell 305 points or 1.2%, closing at 25,037 points, with a turnover of RMB 169.3 billion. The Taiwan Weighted Index rose 168 points or 0.7%, closing at 24,268 points. TSMC and Hon Hai rose 0.9% and 1.3%, respectively, while Largan Precision rose 1.5%.

The Japanese Nikkei Average rose 548 points or 1.3%, closing at 42,487 points. SoftBank and Advantest rose 5.2% and 4.2%, respectively, while Fast Retailing rose 2.1%. South Korea's Kospi Index rose 4 points or 0.1%, closing at 3,188 points. SK Hynix, LG Energy Solution, and Hyundai Heavy Industries each rose between 1% and 1.2%. India's Nifty 50 Index rose 175 points or 0.7%, closing at 24,890 points. Hindustan Unilever rose 1.5%, and automotive stock Mahindra rose 6.2%. The Indian Goods and Services Tax panel approved a reduction in the consumption tax for small cars and household products to stimulate consumption.

The Australian S&P/ASX 200 Index rose 73 points or 0.8%, closing at 8,812 points. Commonwealth Bank of Australia, Westpac Banking Corporation, and National Australia Bank each rebounded over 2%, while mining stock Rio Tinto rose 1.9%. The New Zealand Exchange 50 Index rose 39 points or 0.3%, closing at 13,114 points.

The Singapore Straits Times Index rose 9 points or 0.2%, closing at 4,298 points, reaching a new high of 4,303 points during the session. Suntec REIT rose 2%, while OCBC and UOB rose 0.5% and 0.8%, respectively, and DBS rose 0.2%. Malaysia fell by less than 0.1%, Indonesia's stock market fell by 0.3%, while Thailand and the Philippines' stock markets rose by 0.2% and 0.4%, respectively. Vietnam's Hanoi stock market rose by 0.4%, while Ho Chi Minh's stock market fell by 0.2%