[SYDNEY] Asian share markets swung higher on Wednesday as a raft of Chinese data easily beat expectations in a sign Beijing's policy stimulus may finally be gaining traction in the world's second-largest economy.
Investors reacted immediately by buying the Australian dollar, often a liquid proxy for China plays, which pushed up 0.3 per cent to a two-month top at $0.7206.Japan's Nikkei added 0.5 per cent to reach its highest in almost five months, while E-Mini futures for the S&P 500 rose 0.2 per cent.MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.2 per cent to near its highest since July.
In currency markets, the dollar finally managed to top resistance on the yen at 112.13 to reach its highest since December at 112.16. It was last at 112.02.
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