Asian equities traded mixed amid choppy trade early Wednesday after a modestly higher close on Wall Street overnight and as China’s manufacturing sector surprised markets with growth for the first time in three months.
Japan’s Nikkei 225 index rebounded into positive territory an hour into trade, remaining in sight of Tuesday’s 15-year highs, but a weak dollar-yen capped gains.
China’s stock market inched down 0.2 percent after wavering between gains and losses following the flash PMI reading. The Shanghai Composite index is in its first day of trade since being closed for the past five sessions due to the Lunar New Year holiday.
In Hong Kong, the Hang Seng index held near the flatline in similar choppy trade, as the city’s financial secretary John Tsang is due to deliver his budget statement for the 2015-2016 fiscal year.
South Korea’s Kospi index was the top performer in the region, hitting a two-and-a-half-month high as index heavyweights rallied. Utility Kepco piled on 3.4 percent, while Samsung Electronics and Posco rose nearly 1 percent, respectively.
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