The China stock market has finished higher in three straight sessions, collecting almost 30 points or 0.9 percent along the way. The Shanghai Composite Index now rests just above the 3,240-point plateau, and the market may extend its gains on Thursday.
The global forecast for the Asian markets is positive following the Federal Reserve's widely expected decision to raise interest rates. The European and U.S. markets were up and the Asian bourses figure to follow suit.
The SCI finished slightly higher on Wednesday as gains from the oil companies and telecoms were capped by weakness from the property sector.
For the day, the index added 2.43 points or 0.08 percent to finish at 3,241.94 after trading between 3,227.74 and 3,243.71. The Shenzhen Composite eased 0.35 points or 0.01 percent to end at 2,026.76.
Among the actives, Industrial and Commercial Bank of China shed 0.221 percent, while PetroChina, Bank of China and Agricultural Bank of China all were unchanged, Vanke skidded 1.30 percent, Gemdale tumbled 1.55 percent, China Petroleum and Chemical (Sinopec) added 0.72 percent and China Unicom spiked 1.36 percent.
The lead from Wall Street is upbeat as stocks moved higher on Wednesday, offsetting much of the weakness in recent sessions.
The Dow rose 112.73 points or 0.5 percent to 20,950.10, while the NASDAQ climbed 43.23 points or 0.7 percent to 5,900.05 and the S&P added 19.81 points or 0.8 percent to 2,385.26.
The strong move came after the Fed raised the target range for the federal funds rate by 25 basis points to 0.75 to 1 percent. The Fed said the decision came in light of realized and expected labor market conditions and inflation.
Members of the Fed project two more rate hikes this year, which would bring the target range for the federal funds rate to 1.25 to 1.50 percent. Fed Chair Janet Yellen said the message of the rate hike should be that the "economy is doing well."
In economic news, the Commerce Department reported an uptick in retail sales in February, while the Labor Department noted an uptick in inflation in February.
Crude oil futures rallied Wednesday after a surprising drop in U.S. oil inventories. U.S. crude settled at $48.86 up 2.4 percent and snapping a seven-session losing streak.
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