By Michael Kitchen
LOS ANGELES (MarketWatch) -- Asian stock markets enjoyed modest gains in Wednesday morning trading, following a positive lead from Wall Street. Volume was reportedly light, with Japanese markets closed for the Emperor's Birthday and with many other bourses set to close at week's end for Christmas. Australia's S&P/ASX 200 reversed from early mild losses to trade up 0.5% at 4,726.5. Financials were among the top advancers, with Westpac Banking Corp. (AU:WBC 24.68, +0.53, +2.19%) (WEBNF 21.45, +0.90, +4.38%) 1.1% higher, and Macquarie Group Ltd. (AU:MQG 47.44, +0.73, +1.56%) (MCQEF 40.50, -2.15, -5.04%) rising by 1.3%. Seoul's benchmark Kospi rose 0.2% to 1,658.6, with Hynix Semiconductor Inc. (HXSCF 18.63, +0.22, +1.21%) (HXSE.Y 92.79, -0.37, -0.40%) rising 1.6% after the chief executive of the world's second-largest chip maker told Dow Jones Newswires that he expects the company to swing to a profit next year.
