Video

Asia stocks posted solid gains on Wednesday with tech stocks boosted by a reassuring outlook from industry leader Intel. Taiwan tech companies such as TSMC were among the best performers after Intel earnings slightly beat expectations. In Japan the benchmark Nikkei jumped 1.2 percent (13,146) with big exporters such as Sony also higher. Financial stocks such as Mitsubishi UFJ also gained after several U.S. regional banks reported forecast beating first quarter profits. In Shanghai, already battered stocks slumped further on the back of a fresh round of economic data. The government said First quarter economic growth rose 10.6 percent, a slight decline from the same period a year ago. Consumer inflation remained high at 8.3 percent with economists saying Beijing will be wary of relaxing policy despite a darkening global outlook. China inflation has been hovering at around 12 -year highs. Authorities are concerned that the soaring cost of food may eventually cause social unrest. Tara Joseph-Hui reporting for Reuters. COMPANIES MENTIONED: SYMBOLS: