Asian Shares Mostly Higher

        TOKYO--Hong Kong shares led Asian stock markets mostly higher in early Wednesday trading, with the Hang Seng Index hitting a seven-year high.
        Hong Kong's benchmark index was up 2.0% to 25782.19, the highest level since May 2008. The market is returning to action Wednesday after an extended holiday.
        With the A-share market still rising despite weak economic data and poor corporate earnings in China, Hong Kong H-shares are becoming an increasingly attractive alternative, according to HSBC, which noted moves from Beijing to encourage more investment in Hong Kong, including margin trading, sales of mutual funds, and lowering the minimum threshold to use Stock Connect.
        In Japan, the Nikkei Stock Average was also higher by 0.5% at 19736.68. The market awaits the Bank of Japan's announcement on policy, although few expect concrete easing steps so soon after the central bank's last big easing move on Oct. 31.
        "The BOJ need more time to assess the effects of its most recent easing steps, which have not looked very effective in spurring inflation," says Tatsunori Kawai, chief strategist at kabu.com Securities. BOJ is committed to raising Japan's annual inflation rate to at least 2.0%.
        Elsewhere, South Korea's Kospi index was up 0.5% at 2056.43, while Shanghai was down 0.4% at 3945.032. Australia's ASX200 was higher by 0.4% at 5948.20 and New Zealand's NZX50 was up 0.1% at 5862.092.
        Write to Brad Frischkorn at bradford.frischkorn@wsj.com
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        (END) Dow Jones Newswires

        April 07, 2015 22:40 ET (02:40 GMT)

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