(fxcue news) - Asian stock markets are trading mostly higher on Wednesday, following the broadly positive cues from Wall Street overnight, boosted by markets in China, Hong Kong and Taiwan after China's central bank unveiled its biggest stimulus since the pandemic to support the nation's economy, primarily the property sector. Spike in commodity prices also supported the markets. Asian markets closed mostly higher on Tuesday. Australian shares are trading slightly higher on Wednesday, recouping some of the losses in the previous two sessions, with the benchmark S&P/ASX 200 staying well above the 8,100 level, following the broadly positive cues from Wall Street overnight, with gains in mining and energy stocks amid spiking commodity prices, partially offset by losses in financial stocks. The benchmark S&P/ASX 200 Index is gaining 2.60 points or 0.03 percent to 8,144.60, after touching a high of 8,179.10 earlier. The broader All Ordinaries Index is up 8.30 points or 0.10 percent to 8,393.40. Australian stocks ended slightly lower on Tuesday. Among major miners, BHP Group is gaining 2.5 percent, Rio Tinto is adding more than 2 percent, Fortescue Metals is advancing more than 3 percent and Mineral Resources is surging almost 5 percent. Oil stocks are mostly higher. Beach energy, Woodside Energy and Santos are edging up 0.1 to 0.2 percent each, while Origin Energy is edging down 0.5 percent. In the tech space, Afterpay owner Block is losing almost 2 percent and Zip are declining more than 3 percent, while Xero is up more than 1 percent and Appen is surging almost 6 percent. WiseTech Global is flat. Among the big four banks, Commonwealth Bank and ANZ Banking are losing more than 1 percent each, while National Australia Bank is declining more than 2 percent and Westpac is down almost 1 percent. Among gold miners, Northern Star Resources is gaining more than 1 percent, Newmont is adding almost 2 percent, Evolution Mining is advancing more than 3 percent, Gold Road Resources is up more than 2 percent and Resolute Mining is rising almost 1 percent. In economic news, Australia's monthly Consumer Price Index (CPI) rose 2.7 percent in the year to August 2024, down from 3.5 percent in July and below forecasts of 2.8 percent. It was the lowest figure since August 2021. In the currency market, the Aussie dollar is trading at $0.689 on Wednesday. The Japanese stock market is trading modestly higher on Wednesday, adding to the gains in the previous four sessions, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving well above the 38,000 mark, with gains in exporters and technology stocks partially offset by weakness in financial stocks. The benchmark Nikkei 225 Index closed the morning session at 38,068.22, up 127.63 points or 0.34 percent, after touching a high of 38,102.75 earlier. Japanese stocks ended notably higher on Tuesday. Market heavyweight SoftBank Group is losing almost 1 percent and Uniqlo operator Fast Retailing is up more than 1 percent. Among automakers, Honda is gaining almost 1 percent and Toyota is adding more than 1 percent. In the tech space, Advantest is advancing almost 5 percent, Screen Holdings is gaining almost 2 percent and Tokyo Electron is edging up 0.4 percent. In the banking sector, Mizuho Financial is losing almost 2 percent, Sumitomo Mitsui Financial is down more than 2 percent and Mitsubishi UFJ Financial is declining almost 4 percent. Among the major exporters, Sony is edging up 0.4 percent, while Panasonic and Mitsubishi Electric are advancing almost 3 percent each. Canon is losing almost 1 percent. Among other major gainers, Yaskawa Electric is soaring more than 7 percent, Shiseido is surging almost 6 percent and Daikin Industries is gaining more than 5 percent, while Minebea Mitsumi, Sumitomo Metal Mining, Fanuc and Toto are rising more than 4 percent each. M3 and SMC are adding almost 4 percent each, while Panasonic and Subaru are advancing more than 3 percent each, while Mitsubishi Heavy Industries, Renesas Electronics and Yamato Holdings are up almost 3 percent each. Conversely, Kyowa Kirin is plummeting more than 14 percent, Resona Holdings is losing more than 4 percent and Tokio Marine is declining more than 3 percent. In economic news, producer prices in Japan were up 2.7 percent on year in August, the Bank of Japan said on Wednesday - unchanged from the July reading following an upward revision from 2.6 percent. On a monthly basis, producer prices rose 0.1 percent, easing from 0.3 percent in the previous month. Excluding international transportation, producer prices were also up 0.1 percent on month and 2.7 percent on year. In the currency market, the U.S. dollar is trading in the lower 143 yen-range on Wednesday. Elsewhere in Asia, China is gaining 2.5 percent, Hong Kong is adding 2.0 percent and Taiwan is up 1.2 percent. New Zealand, South Korea and Malaysia are up 0.1 percent each, while Indonesia and Singapore are down 1.0 and 0.5 percent, respectively. On the Wall Street, stocks closed higher on Tuesday after a somewhat choppy ride, and the S&P 500 hit a fresh record high, as investors made largely cautious moves while awaiting more data for directional cues. The Dow ended with a gain of 83.57 points or 0.2 percent at 42,208.22, the S&P 500 closed up 14.36 points or 0.25 percent at 5,732.93, slightly off the all-time high of 5,735.32, and the Nasdaq climbed 100.25 points or 0.56 percent to 18,074.52. The major European markets also showed more moves to the upside on the day. The U.K.'s FTSE 100 gained 0.28 percent, Germany's DAX closed higher by 0.8 percent, and France's CAC 40 ended up 1.28 percent. Crude oil prices rallied on Tuesday as concerns about the outlook for demand eased after the Chinese central bank announced a slew of stimulus measures to boost the nation's economy. An escalation in tensions in the Middle East, and reports of a new storm in Gulf of Mexico also contributed to the rise in oil prices. West Texas Intermediate Crude oil futures ended up by $1.19 or about 1.7 percent at $71.56 a barrel.