Stocks in Asia were mostly higher on Wednesday as the International Monetary Fund said the global economy is set to see a more significant contraction than it previously forecast. Mainland Chinese stocks nudged higher on the day, with the Shanghai composite up 0.14% to about 2,935.87 while the Shenzhen component advanced 0.192% to approximately 11,420.84. Hong Kong's Hang Seng index rose 0.25%, as of its final hour of trading. Over in South Korea, the Kospi rose 0.14% to close at 2,141.05. India's Nifty 50 was 0.24% higher in afternoon trade. Shares in Japan lagged, as the Nikkei 225 shed 0.56% to close at 22,455.76 while the Topix index declined 0.4% to end its trading day at 1,587.09. Meanwhile, the S&P/ASX 200 in Australia added 0.83% to close at 5,991.80. Overall, the MSCI Asia ex-Japan index was 0.34% higher.
