As Investors Take In Private Survey Data On China Services, Asia-Pacific Shares Increases

Markets in the Asia-Pacific region rose as investors discounted the U.S. Federal Reserve’s pledge to raise interest rates in order to combat inflation. The Shanghai Composite increased 1.03% while the Shenzhen Component in mainland China gained 2.42%.
Investors digested an improved reading in China’s Caixin services Purchasing Managers’ Index for December, which led to a rise of 1.60% in the Hang Seng index in Hong Kong. Earlier gains of more than 2% were reduced.
The private sector contraction was less pronounced, according to Hong Kong’s S&P (Standard and Poor) Purchasing Managers’ Index. S&P/ASX 200 (Australia’s leading share market index) in Australia grew by 0.669%. The Topix gained 0.16% and the Nikkei 225 gained 0.68% in Japan’s opening hour of trading. Both the Kosdaq and the Kospi saw gains of 0.49 percent and 0.1%, respectively.