Asian stock markets snapped Wednesday’s trading session on a mixed note with the Chinese markets surging around a percent after reports showed that China manufacturing activity improved from 48.8 in January to 49.7 in February. However, the number was still below the 50-level that signifies expansion, indicating that the Chinese central bank will have to employ policy measures to spur growth. The benchmark in Japan too went home with gains of around a percent led by energy shares after international crude oil prices rallied near their nine month high levels while the depreciation in yen spurred buying interests in export oriented stocks.
On the other hand, the equity index in Singapore overlooked the optimism in other Asian markets and snapped the three day gaining streak by plunging around a percent as the weaker than expected earnings from commodities firm Wilmar International stoked worries over receding margins.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2,403.59 | 22.16 | 0.93 |
Hang Seng | 21,549.28 | 70.56 | 0.33 |
Jakarta Composite | 3,995.02 | -7.93 | -0.20 |
KLSE Composite | 1,560.52 | -3.26 | -0.21 |
Nikkei 225 | 9,554.00 | 90.98 | 0.96 |
Straits Times | 2,995.59 | -29.48 | -0.97 |
Seoul Composite | 2,028.65 | 4.41 | 0.22 |
Taiwan Weighted | 8,001.68 | 80.18 | 1.01 |
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