A family shelters from the rain in front of an electronic stock indicator in Tokyo Wednesday, April 3, 2013. Asian stock markets mostly rose Wednesday, boosted by more evidence the U.S. economic recovery is gaining traction. Japan's Nikkei 225 index in Tokyo jumped 1.7 percent to 12,207.46 as a fall in the yen enticed investors back into export shares. (AP Photo/Shizuo Kambayashi)
A family shelters from the rain in front of an electronic stock indicator in Tokyo Wednesday, April 3, 2013. Asian stock markets mostly rose Wednesday, boosted by more evidence the U.S. economic recovery is gaining traction. Japan's Nikkei 225 index in Tokyo jumped 1.7 percent to 12,207.46 as a fall in the yen enticed investors back into export shares. (AP Photo/Shizuo Kambayashi)
A man struggles to walk in the slanting rain in front of an electronic stock board in Tokyo Wednesday, April 3, 2013. Asian stock markets mostly rose Wednesday, boosted by more evidence the U.S. economic recovery is gaining traction. Japan's Nikkei 225 index in Tokyo jumped 1.7 percent to 12,207.46 as a fall in the yen enticed investors back into export shares. (AP Photo/Shizuo Kambayashi)
BANGKOK (AP) ? Japan's benchmark stock index surged Wednesday as the Bank of Japan started its first policy meeting under a new governor committed to aggressive monetary action to end years of economic malaise.
Central bank chief Haruhiko Kuroda has vowed to do whatever it takes to break Japan out of its debilitating deflation. Kuroda, who assumed his post March 19, has pledged to cooperate with Prime Minister Shinzo Abe's program of big government spending, monetary easing and economic reforms aimed at improving Japan's competitiveness.
Optimism about the meeting's outcome sent Japan's Nikkei 225 index in Tokyo soaring 2.6 percent to 12,320.52.
Elsewhere, however, Asian stock markets struggled to hold onto initial gains resulting from positive reports about the U.S. economy. Some investors were skeptical about a quick fix for Japan and were acting cautiously before the policy meeting ends Thursday.
"The market is starting to moderate its expectations a bit about what might happen," said Ric Spooner, chief market analyst at CMC Markets in Sydney.
Hong Kong's Hang Seng fell 0.2 percent to 22,318.09 after a higher open. South Korea's Kospi shed 0.3 percent to 1,979.04. Australia's S&P/ASX 200 dropped 0.6 percent to 4,957.70 after a narrowing trade deficit boosted the Australian dollar, analysts said.
Benchmarks in the Philippines and Indonesia rose. China's Shanghai Composite Index added 0.1 percent to 2,230.83.
A fall in the yen enticed investors back into export shares; a weaker yen helps Japanese exporters by making their products cheaper in overseas markets. Mitsubishi Motors Corp. jumped 5.4 percent. Mazda Motor Corp. advanced 5.7 percent.
U.S. government figures released Tuesday showed a better-than-expected 3 percent rise in factory orders in February, the largest increase since September. In addition, March sales reports from auto makers were solid.
Those figures helped spur stock buying in the U.S.
The Dow Jones industrial average and Standard & Poor's 500 index both closed at record highs Tuesday. The Dow closed up 0.6 percent at 14,662.01. The S&P 500 rose 0.5 percent to 1,570.25. The Nasdaq composite added 0.5 percent to 3,254.86.
Benchmark oil for May delivery was down 51 cents to $96.68 per barrel in electronic trading on the New York Mercantile Exchange. The contract gained 12 cents to finish at $97.19 per barrel on the Nymex on Monday.
In currencies, the euro fell to $1.2806 from $1.2813 late Tuesday in New York. The dollar rose to 93.49 yen from 93.35 yen.
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