Asian shares gain

Stocks in Hong Kong led Asian markets higher Wednesday, after China resorted to using another targeted stimulus measure for jump-starting its economy and as a meeting of the US Federal Reserve drew near. The Hang Seng 0011.HK -0.23% Index was up 1.3%, breaking eight straight days of losses, after reports that China's central bank is extending $81 billion to state-owned banks to counter a slowdown in the world's second largest economy. The Shanghai Composite was up 0.3%, after stocks there posted their largest daily percentage decline in more than six months on Tuesday on signs of sluggish growth in China. The five banks getting a cash injection of 100 billion yuan each—Industrial & Commercial Bank of China Ltd., China Construction Bank Corp. , Agricultural Bank of China Ltd., Bank of China Ltd. and Bank of Communications Co.—all jumped more than 1.5% in Hong Kong. The Nikkei Stock Average was up 0.1% as the greenback traded at ¥107.24, up from ¥107.13 late Tuesday in New York. Korea's Kospi was up 0.7%, according to wsj.com