US Secretary of State Blinken to visit China in the coming weeks - Asia Market Wrap

- A measure of Asian equities rose slightly on Wednesday, boosted by a rise in Hong Kong markets amid optimism for Chinese stimulus and a favourable sign in geopolitics.

- The Hang Seng Index gained more than 1%, setting a new high for the city in more than two weeks, while the market's technology index increased by over twice that amount.

- Japanese equities lost ground as a result of selling in the electric appliances sector, a rise in the yen, and positioning ahead of an equity futures contracts expiry.

- With traders looking for further government assistance to sustain China's sluggish economic recovery, anticipation for stimulus is growing after officials requested the country's largest banks to decrease deposit rates.

- Meanwhile, US Secretary of State Blinken planned to visit China in the coming weeks, presenting an opportunity for improved relations between Washington and Beijing, which have dragged on Hong Kong and Shanghai stocks.