Major indexes in Asia rose Wednesday with China's Shanghai Composite Index gaining 1.1% to close at 3,270. In Hong Kong the Hang Seng Index added 8.0%, ending the day at 22,290 and in Japan, the Nikkei Index inched up 0.4% to 9,609.
In China, real estate developers led gains as home buyers continued to take advantage of China's government mandated incentives that are boosting sales and propping up prices.
China Merchant's Property Development soared 8%. The company creates European-style communities on the outskirts of major cities like Shanghai where stately developments called names like Hyde Garden are nestled among immaculately groomed gardens. The company is also branching out to up-and-coming cities like Tianjin where communities with names like Diamond Hill promise the most elegant of lifestyles, complete with heated swimming pools, yoga rooms and gleaming marble bathrooms.
Gemdale, which also focuses on luxury properties, added 3.1%, Poly Real Estate gained 2.8% and China Vanke (CVKEF), one of the largest developers, added 2.2%.
In Hong Kong, banks were on the up and up with HSBC (HBC), the most heavily weighted stock on the territory's exchange, rising 1% and China Construction Bank (CICHF) gaining 1.4%. Industrial & Commercial Bank of China added 0.6%.
Real Estate developers also made gains today in Hong Kong. China Overseas Land (CAOVF) climbed 4.1% while state-owned China Resources Land (CRBJF) leaped 6.6%. Country Garden Holdings (CTRYY), which is controlled by the richest woman in China surged 7.6%. Major developer Sun Hung Kai (SUHJY) advanced 1.3% while Henderson Land (HLDVF), which claims to have sold the world's most expensive property this year, inched up 0.8%.
In Japan, carmakers tapped into sales increases in the U.S., where they earn a large percentage of their profits. Nissan (NSANY) rose 2.5%, Honda (HMC) gained 2.1% and Toyota (TM) picked up 1.1%. Banks, however, lost value in Tokyo, despite the government's plan to inject 10 trillion yuan ($115 billion) into the beleaguered economy to thwart deflation. Sumitomo Mitsui Financial Group (SMFJY) sank 2.2% and Mitsubishi UFJ (MTU) sank 2.2%. Perhaps Chinese-style stimulus measures can boost the Japanese economy, helping them to keep up with their neighbors in China.