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Asian markets trade in green in early deals on Wednesday

05 Mar 2025 Evaluate
Asian markets traded in green in early deals on Wednesday, kindled by the risk appetite in the market after a modest fall in the prior session. A rally in US futures further contributed to the bullish mood, following overnight slumps in Wall Street's S&P 500 and Dow Jones. Auto sector stocks in the local indices rallied after the automakers warned that new US tariffs on Canadian and Mexican imports could raise vehicle prices by up to 25% and disrupt supply chains. Meanwhile, investors also welcomed possibility of tariff compromise between the US, Canada, and Mexico followed by the comments from US Commerce Secretary Howard Lutnick. Investor sentiments also got boosted after China set a GDP growth target of around 5% for 2025 during this week’s parliamentary meeting, while raising its budget deficit target to 4% of GDP. On the economic front, South Korea’s economy grew by 0.1% in Q4 2024, while Japan’s services sector growth reached a six-month high in February and China’s business activity surged to a three-month high in February. Japan’s Nikkei advanced with the positive global cues.

Nikkei 225 up by 149.36 points or 0.40% to 37,480.54, Straits Times rose by 12.44 points or 0.32% to 3,903.20, Hang Seng surged by 378.59 points or 1.62% to 23,320.36, Taiwan Weighted soared by 303.41 points or 1.34% to 22,900.29, KOSPI Index increased by 28.04 points or 1.11% to 2,556.96, Jakarta Composite bullish by 157.36 points or 2.47% to 6,537.76, Shanghai Composite lifted by 10.69 points or 0.32% to 3,334.90 and FTSE Bursa Malaysia KLCI climbed by 10.61 points or 0.68% to 1,566.27.

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