Asian Markets Open Higher on Cool Aid Dreams and Hopium Over the Fiscal Cliff

HONG KONG (MarketWatch) — Asia stocks gained Wednesday amid sustained optimism for an agreement on upcoming U.S. tax hikes and spending cuts, ahead of the conclusion of a Federal Open Market Committee that may see it undertake more asset buying.

Japan’s Nikkei Stock Average JP:100000018 +0.47%  rose 0.6%, while Australia’s S&P/ASX 200 index AU:XJO +0.42%  added 0.5%.

South Korea’s Kospi KR:SEU +0.27%  advanced 0.3%, paring gains after reports of a rocket launch by North Korea. Read: North Korea launches long-range rocket: reports

In Chinese trading, Hong Kong’s Hang Seng Index HK:HSI +0.59% advanced 0.6% while the Shanghai Composite index CN:000001 -0.12% traded fractionally higher…”

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