Asian markets ended higher on Wednesday, even as Wall Street’s shares tumbled overnight on concerns that US President Donald Trump's tariffs on Canada, Mexico and China will lead to a wider trade war and hurt the global economy. Investors are awaiting the release of US ISM Services PMI and ADP Employment Change data for February. Chinese and Hong Kong shares gained after the Chinese government unveiled an annual economic growth target of around 5% and pledged more support for domestic consumption and the tech industry as a trade war with the United States heats up. The Chinese yuan weakened slightly as China boosted its budget deficit to the highest in 30 years. Japanese markets rose slightly after Bank of Japan Deputy Governor Shinichi Uchida signaled further rate hikes, citing inflation and wage growth.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,341.96 | 17.75 | 0.53 |
Hang Seng | 23,594.21 | 652.44 | 2.77 |
Jakarta Composite | 6,531.40 | 151.00 | 2.31 |
KLSE Composite | 1,564.42 | 8.76 | 0.56 |
Nikkei 225 | 37,418.24 | 87.06 | 0.23 |
Straits Times | 3,898.40 | 7.64 | 0.20 |
KOSPI Composite | 2,558.13 | 29.21 | 1.14 |
Taiwan Weighted | 22,871.90 | 275.02 | 1.20 |
