JKB Financial Services Ltd.

As on : 05-Mar-2025

Market Commentary - Foreign Markets
05-Mar-2025 16:23

China Shanghai composite index rise 0.53%

Asian stocks ended mixed on Wednesday as the Trump administration indicated flexibility on some of its latest tariff measures against Canada and Mexico, and investors watched the latest developments of China's annual political gathering.

The U.S. dollar remained fragile ahead of the release of ISM Services PMI and ADP Employment Change data for February.

Gold was marginally lower amid rising Treasury yields while oil extended losses for a third day on demand concerns.

China's Shanghai Composite index rose 0.53 percent to 3,341.96 as the government unveiled an annual economic growth target of around 5 percent and announced plans to boost domestic consumption and support the economy, given the broadening global uncertainty.

China's service sector grew at a faster pace in February on a moderate growth in new business, survey results from S&P Global showed on Wednesday.

The services Purchasing Managers' Index rose unexpectedly to 51.4 in February from 51.0 in January. The reading was forecast to fall to 50.8.

GET IN TOUCH