Asia-Pacific markets opened mixed on Wednesday following a slightly positive close among United States benchmarks overnight.
By 11:35 am AEDT (12:35 am GMT) Australia’s ASX 200 declined 0.8%, while Japan’s Nikkei eased 0.3%. South Korea’s Kospi 200 outperformed, adding 1.3%.
In Japan, business sentiment among manufacturers improved for a second consecutive month in February, according to the Reuters Tankan survey. The sentiment index rose to +3, its highest since November, up from +2 in January.
Meanwhile, Japan's core machinery orders, excluding those for ships and electric power companies, fell by 1.2% month-on-month to JPY889.3 billion in December 2024, marking the worst performance in four months.
In Australia, the wage price index (WPI) increased by 0.7% in the December quarter of 2024 and by 3.2% over the year, largely in-line with market expectations.
Michelle Marquardt, Australian Bureau of Statistics (ABS) head of prices statistics noted: “The 0.7% rise this quarter was the equal lowest growth since March quarter 2022. At 3.2%, the annual increase in wages was down from 4.2% in December quarter 2023 and is the equal lowest since September quarter 2022."
U.S. stocks opened the shortened holiday trading week with a subdued session. The Dow Jones Industrial Average edged up 10 points, or less than 0.1%, to close at 44,556.34. The S&P 500 gained 0.2% to 6,129.58, while the Nasdaq Composite added less than 0.1% to 20,041.26.
Among S&P 500 companies, Super Micro Computer led gains, surging 16.4%.
Intel jumped 16.3% after media reports suggested that both chip designer Broadcom and Taiwan Semiconductor Manufacturing were considering bids to acquire different divisions of the chipmaker.
On the downside, Medtronic declined 7.3%, Allegion fell 5.7%, and Chipotle Mexican Grill dropped 4.5%.
In commodities, Brent crude oil gained 0.8% to US$75.81 per barrel, while gold remained flat at US$2,935.21.
Chinese equities weakened, with the Shanghai Composite and CSI 300 falling 0.9% to 3,324.5 and 3,912.8, respectively. Hong Kong’s Hang Seng Index, however, gained 1.6% to 22,976.8.
European equities closed higher, with Germany’s DAX up 0.2% at 22,844.5 and France’s CAC 40 rising 0.2% to 8,206.6. The UK’s FTSE 100 was flat at 8,766.7.
