Asia stocks are receiving a lift from stronger-than-expected Japan industrial production and US consumer confidence data hitting a seven-month high.

Manufacturing output in the world’s third-largest economy rose by 2.7% in September from a month earlier, beating forecasts for a 2.2% rise.

The regional benchmark MSCI Asia Pacific Index rose by 0.4% in Tokyo, marking its fourth day of gains.

Japan’s Nikkei opened 0.3% higher while Australia’s ASX 200 rose 0.5%.

Hong Kong stocks jumped 0.9% and the Shanghai Composite rose 0.2% at the open on Wednesday.

The rises followed an upbeat performance on Wall Street overnight, where the S&P 500 jumped 1.2% to close near a record high.

Markets will now be watching for the outcome of the Federal Reserve’s two-day policy meeting, which finishes today.

The US central bank is expected to leave its key interest rate unchanged and possibly end its bond-buying stimulus programme.

Stock movers

Investors will also be digesting a slew of Asian corporate earnings out on Wednesday, including results from PetroChina and Nintendo.

Shares in casino operator Wynn Macau rose 2.6% in Hong Kong after its parent company released better-than-expected earnings despite rising costs.

Wynn Resorts saw revenues of $1.4bn (£869m) in the third quarter, which was higher than estimates because of a revival at its two Las Vegas casinos.

Japan’s biggest investment bank Nomura rose as much as 4% in Tokyo after it posted strong quarterly results on Tuesday and announced a second share buyback programme.

British lender Standard Chartered didn’t fare as well though. Its Hong Kong-listed shares have fallen to a five-year low after the firm issued a profit warning on Tuesday.

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