Stocks in Asia-Pacific were mixed on Wednesday as a private survey showed China’s services sector activity growth slowing sharply in January.
The Nikkei 225 continued on its upward path, taking on 284.33 points, or 1%, to 28,646.50.
The Japanese yen traded at 105.02 per U.S. dollar, still weaker than levels below 104 against the greenback seen last week.
The Hang Seng index in Hong Kong grabbed 58.76 points, or 0.2%, to 29,307.46.
In corporate news, Hong Kong-listed shares of Alibaba edged 0.38% higher on Wednesday. It came after the Chinese tech giant reported that its cloud division was profitable for the first time. The e-commerce company is looking to raise up to $5 billion via U.S. dollar-denominated bonds.
Meanwhile, shares of South Korean automaker Kia Motors soared 9.65% on Wednesday. That came following a local media report that the carmaker is set to sign a four-trillion won (about $3.59 billion U.S.) deal with Apple to build electric vehicles.
The Australian dollar changed hands at $0.761, following an earlier low of $0.7599.
CHINA
In Shanghai, the CSI 300 docked 15.89 points, or 0.3%, to 5,485.20.
The Caixin/Markit services Purchasing Managers’ Index for January came in at 52, representing growth at its slowest pace in nine months. That compared against December’s reading of 56.3.
Levels above 50 in PMI readings represent expansion while those below that level signify contraction. PMI readings are sequential and show on-month expansion or contraction.
In other markets
In Korea, the Kospi index gained 32.87 points, or 1.1%, to 3,129.68
In Singapore, the Straits Times added 10.18 points, or 0.4%, to 2,927.47
In Taiwan, the Taiex Index forged ahead 11.27 points, or 0.1%, to 15,771.32
In New Zealand, the NZX 50 regained 46.71 points, or 0.4%, to 13,019.21.
In Australia, the ASX 200 hiked 62 points, or 0.9%, to 6,824.61.
