Asian markets settled mostly higher on Wednesday, despite Wall Street’s fall overnight with expectations the US Fed will maintain interest rates higher for longer to cool off stubborn inflation. Chinese shares gained sharply after the release of stronger than expected manufacturing data. Data showed that the official Chinese manufacturing purchasing managers' index (PMI) rose to 52.6 from 50.1 in January, while the official non-manufacturing PMI rose to 56.3 from 54.4 in January. The Caixin/S&P Global manufacturing PMI also rose to 51.6 from 49.2 in January. Japanese shares gained slightly even as Japan PMI Manufacturing was finalized at 47.7 in February, down from January’s 48.9. Meanwhile, South Korean market was closed for a national holiday.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,312.35 | 32.74 | 0.99 |
Hang Seng | 20,619.71 | 833.77 | 4.04 |
Jakarta Composite | 6,844.94 | 1.70 | 0.02 |
KLSE Composite | 1,450.20 | -3.99 | -0.27 |
Nikkei 225 | 27,516.53 | 70.97 | 0.26 |
Straits Times | 3,255.08 | -7.55 | -0.23 |
KOSPI Composite | -- | -- | -- |
Taiwan Weighted | 15,598.49 | 94.70 | 0.61 |
