Asian markets rally, Gold rejects $1248

All Asian markets are trading higher on Wednesday after Wall Street closed with sharp gains overnight. In addition Gold fails to break key resistance at $1248 marks and currently trading around $1228 levels. USD/JPY is hovering around 114.00 levels and made high of 114.14 levels.

Japan benchmark Nikkei 225 index was trading 3.84% higher to 16,703.53 points, while the broader Topix index jumped 3.33% to 1,344.16 points.

Heng Seng index was trading 2.84% to 19,951.14 points, while mainland Chinese markets had a more subdued opening, with the Shanghai Composite gaining 0.92% to trade at 2,758.34 points.

Kospi index was trading 1.56% higher to 1946 points.

Australia's benchmark S&P/ASX 200 index was trading 2.37% higher to 5,038.40 points on Wednesday.

New Zealand's benchmark S&P/NZX 50 index was rising 0.32% to 6,302.33 points.
 

Indian stock market continues to move higher on Wednesday. NSE Nifty was trading 1.52% higher at 7330 points and BSE Sensex was trading 3.38% higher at 23,779 points in opening hours.