Asia-Pacific Stocks Mostly Fall as Investors Assess a Slew of Economic Data from The Region
Asia-Pacific stocks were mostly down Wednesday, breaking ranks with Wall Street that saw the S&P 500 close at a record high as investors appeared to look past tariffs and inflation headwinds.
Japan’s benchmark Nikkei 225 fell 0.62% while the broader Topix index was down 0.59% as the country reported a two-year high trade deficit.
Business sentiment for Japanese manufacturers rose for the second month in February, results from the Reuters Tankan poll indicates. The manufacturers’ sentiment index rose to plus 3 — its highest level since November — from plus 2 in January.
Over in South Korea, the Kospi was trading 1.49% higher, while the small-cap Kosdaq advanced 0.13%.
Mainland China’s CSI 300 Index started the day 0.16% lower. Hong Kong’s Hang Seng index was opened 1.16% lower.
Australia’s S&P/ASX 200 fell 0.41%, a day after the country’s central bank cut rates by 25 basis points to 4.10%, marking its first easing since November 2020.
The Reserve Bank of New Zealand cut rates by 50 basis points to 3.75% in its policy meeting, in line with Reuters’ estimates. The marks the central bank’s fourth straight cut and comes as its economy slows.
The New Zealand dollar strengthened 0.28% to 0.568 against the U.S. dollar.
Source : CNBC
