Asian markets settle higher on Wednesday

03 Mar 2021 Evaluate

Asian markets ended higher on Wednesday as progress in US stimulus talks kept the market sentiment positive. Further, retreat in US Treasury yields from last week's highs and positive vaccine news also boosted sentiment among investors. Chinese shares ended with strong gains as a private survey showed slowing growth in China’s services sector activity last month. The latest survey from Caixin showed the services sector in the country continued to expand in February, albeit at a slower pace with a services PMI score of 51.5, a decline from January’s reading of 52. While, the private sector in Hong Kong moved into expansion territory in February, the latest survey from Markit Economics showed with services PMI score of 50.2, up from 47.8 in January. Japanese shares gained up on investor hopes of a swift global economic recovery from the pandemic-led recession. Although, the services sector in Japan continued to contract in February, albeit at a slower pace, the latest survey from Jibun Bank revealed with a services PMI score of 46.3, up from 46.1 in January.

Asian Indices	Last Trade	Change in Points	Change in %
Shanghai Composite	3,576.90	68.31	1.95
Hang Seng	29,880.42	784.56	2.70
Jakarta Composite	6,376.76	17.55	0.28
KLSE Composite	1,588.45	18.58	1.18
Nikkei 225	29,559.10	150.93	0.51
Straits Times	3,000.37	26.50	0.89
KOSPI Composite	3,082.99	39.12	1.29
Taiwan Weighted	16,211.73	264.85	1.66

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