2017.05.2505:00:00UTC+00Asian Markets Gain After Fed Minutes

Asian markets climbed on Thursday following minutes from the U.S. Federal Reserve meeting while investors looked ahead to the OPEC gathering broadly anticipated to extend output cuts.

Japan's benchmark Nikkei 225 rose 0.36 percent to close at 19,813.13. South Korea's Kospi index jumped 1.1 percent to finish at 2,342.93.

Australia's ASX 200 ended in positive territory, climbing 0.36 percent to 5,78936.

Mainland Chinese markets reversed earlier declines to finish higher. The Shanghai Composite advanced 1.43 percent to 3,107.873 and the Shenzhen Composite added 0.725 percent to 1,811.9033. Hong Kong's Hang Seng Index was trading 0.80 percent higher in afternoon trade.

In South Korea, The world's second biggest chipmaker SK Hynix said the firm's chip foundry business will be spun into a separate company. According to reports, a company spokesperson said the firm has made a decision to raise long-term competitiveness of the foundry business. SK Hynix shares closed little changed at 55,800 won per stock.

In China, regulators fined brokerages Citic Securities, Haitong Securities and Guosen Securities for violating financing rules. Mainland-listed shares of the brokerages closed higher. Citic Securities jumped 3.99 percent, Haitong climbed 2.44 percent while Guosen leaped 3.8 percent. Shares traded in Hong Kong were also higher, as Citic added 2.92 percent while Haiton gained 4.4 percent.