Most of the Asian equity indices, after a negative start, have turned back into the green terrain on renewed confidence that major central banks will keep taking simulative steps to support their economies. However, Chinese Shanghai continued to trade lower by over half a percent as the nation’s manufacturing growth slowed. The official purchasing managers’ index dipped to 50.1 from 50.4 in January. It was the fifth consecutive month above the midpoint of 50, which indicates an expansion in industrial activity, but the decline in the index means that the pace of expansion has likely slowed.
Jakarta Composite rose 2.94 points or 0.06% to 4,798.73, KLSE Composite strengthened 2.23 points or 0.14% to 1,639.86, Nikkei 225 surged 43.07 points or 0.37% to 11,602.43, Straits Times added 1.28 points or 0.04% to 3,271.23 and Taiwan Weighted was up by 46.85 points or 0.59% to 7,944.83.
On the flip side, Shanghai Composite dropped 12.68 points or 0.54% to 2,352.92 and Hang Seng was down by 68.91 points or 0.30% to 22,951.36.
South Korean markets remained shut for the trade today.
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