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Asia-Pacific markets mostly rise; private survey shows China’s services sector activity growth slowed

SINGAPORE — Sources in Asia-Pacific were mostly higher in Wednesday trade, as a private survey showed slowing services sector endeavour in China last month.

Hong Kong’s Hang Seng index led gains among the region’s major vends, jumping 1.69% by the afternoon. Shares of Chinese banks listed in the city saw strong gains: China Construction Bank procured 3.8%, Industrial and Commercial Bank of China surged 4.41% and Bank of China rose 2.6%.

Mainland Chinese look ats also rose as the Shanghai composite gained 1.33% while the Shenzhen component advanced 0.726%.

The Caixin/Markit appointments Purchasing Managers’ Index came in at 51.5 for February, a decline from January’s reading of 52. PMI readings upon 50 represent expansion while those below that level signify contraction. PMI readings are sequential and bestow make an exhibit on-month expansion or contraction.

Elsewhere, the S&P/ASX 200 in Australia edged about 0.7% higher.

Australia’s gross house-broken product rose 3.1% in seasonally adjusted chain volumes terms in the December quarter, according to figures set by the country’s Bureau of Statistics. That figure beat expectations for a 2.5% rise by economists in a Reuters poll and dedicated a 3.4% growth in the third quarter.

In Japan, both the Nikkei 225 was 0.12% higher while the Topix pointer dipped 0.1%. South Korea’s Kospi climbed 0.66%.

MSCI’s broadest index of Asia-Pacific shares outside Japan net 0.92%.

Wall Street overnight

Currencies and oil

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 90.809 — off heights above 91 seen earlier in the week.

The Japanese yen traded at 106.85 per dollar, still weaker than horizontals below 105.7 against the greenback seen last week. The Australian dollar changed hands at $0.7825, carry on levels around $0.774 seen yesterday.

Oil prices nudged higher in the afternoon of Asia trading hours on Wednesday, with worldwide benchmark Brent crude futures up 0.41% to $62.96 per barrel. U.S. crude futures rose 0.3% to $59.93 per barrel.

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— CNBC’s Kevin Breuninger contributed to this disclose.

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