Hang Seng soared nearly 3% when Asian stocks were dark green

Asia’s major stock indexes all rallied strongly on March 3 trading day, regardless of the slowdown in China’s service sector growth in February.

Hong Kong stocks led the uptrend wave in Asia on March 3 trading day. Photo: AFP

Hong Kong’s Hang Seng Index The area’s rally was up 2.7% to close with 29,880.42 points. Notably, shares of Chinese banks listed in the Hong Kong market all rebounded. Specifically, shares of China Construction Bank rose 5.61%, while shares of Industrial and Commercial Bank of China and Bank of China (BOC) jumped to 5.81% and 4.09 respectively. %.

On the mainland Chinese market, the two major indices also increased significantly. Shanghai Composite closed up nearly 2% to 3,576.90 points, while Shenzhen Component recorded an increase of 1,229% to about 14,932.39 points.

The results of the private survey have just been released clearly, the Caixin / Markit Purchasing Managers’ Index of China in February was only 51.5 points, lower than the 52 recorded in the previous month there. However, the PMI index above 50 shows that the sector / sector under survey still recorded growth / expansion.

In Australia, the S & P / ASX 200 index ended the day with 6,818 points, up 0.82%. According to the Australian Bureau of Statistics, the country’s GDP in the fourth quarter of 2020 increased by 3.1%, exceeding the 2.5% increase predicted by economists in a recent Reuters poll.

Japanese stocks also flourished today with the Nikkei 225 index inching 0.51% to 29,559.10 points, while the Topix index also increased at the same beat of 0.51% and closed at 1,904.54 points. South Korea’s Kospi increased more strongly with 1.29% and ended the day at 3,082.99 points. Overall, the MSCI Asia-Pacific (excluding Japan) rose 1.68%.

After the accelerating session, US stocks last night turned to lose points. Dow Jones Industrial Average closing session lost 143.99 points to 31,391.52 points, while the S&P 500 dropped 0.81% to 3,870.29 points and the Nasdaq Composite slipped 1.69% to 13,358.79.

Regarding the anti-Covid-19 epidemic in the US, President Joe Biden on March 2 affirmed that the country will have enough Covid-19-resistant vaccine to inject all adults by the end of May, 2 months earlier than expected. .

On the money market, the greenback also fell in value with US stocks. The US dollar index against other major currencies slipped to 90,788, from near 91 levels commonly seen earlier in the week. Japanese Yen continued to weaken and converted 106.86 JPY / USD, compared with less than 105.7 JPY for 1 USD recorded last week. On the contrary, the Australian dollar strengthened today and changed hands 1 AUD “ate” USD 0.7824, from USD 1 / USD 0.774 set yesterday.

Oil prices traded by Asian time this afternoon went up, with Brent crude for futures inching up 0.26% to $ 62.86 / barrel, while US crude futures rose 0.25% and delivered. translated at 59.9 USD / barrel.