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China Achieves 3-Month High

China stocks hit over three-month highs Tuesday after the country set its economic growth target at “around 5%” for 2024 during its “Two Sessions” meeting.

In Japan, the Nikkei 225 index lost 11.6 points to 40,097.63.

In Hong Kong, the Hang Seng index plummeted 433.33 points, or 2.6%, to 16,162.64.

South Korea’s revised GDP figures showed its economy grew 0.6% for the fourth quarter of 2023, while Japan’s capital city of Tokyo’s inflation rebounded from a 22-month low in February.

Taiwan hit a record high, with chipmaker TSMC gaining 0.69% and reaching an all time high of 730 New Taiwan dollars ($23.11 U.S.) a share.


In Shanghai, the CSI 300 gained 24.64 points, or 0.7%, to 3,565.51.

The country will boost its defense spending by 7.2% in 2024. It expects the inflation rate to rise to “around 3%.”

In other markets

In Korea, the Kospi index subtracted 24.87 points, or 0.9%, to 2,649.40.

In Taiwan, the Taiex index surged 81.61 points, or 0.4%, to 19,386.92.

Singapore’s Straits Times Index edged back 13.55 points, or 0.4%, to 3,122.21.

In New Zealand, the NZX 50 recovered 28.81 points, or 0.3%, to 11,753.02.

In Australia, the ASX 200 retreated 11.59 points, or 0.2%, to 7,724,20.