Asia Markets today: shares rise with investors evaluating growth goals in China and commercial tensions
Asian markets advanced on Wednesday, as investors analyzed the goals of economic growth and inflation in China while monitoring global trade tensions in the wake of a new American tariff for China, Mexico and Canada.
Despite concerns about escalating commercial conflicts, the main indexes across the region recorded gains.
Japanese Nikkei 225 increased by 0.37 %, with the addition of Topix 0.38 %.
KOSPI from South Korea has gained 1.11 %, while the small Cosax increased by 0.91 %.
The Hang Kong Index in Hang increased by 1.65 %, and the Chinese CSI 300 increased by 0.32 %.
However, the S&P/ASX 200 in Australia managed to slide 0.77 %, although data that shows that the country’s economy has grown by 1.3 % year on an annual basis in the fourth quarter, exceeding 1.2 % expectations, according to a Reuters poll.
China targets 5 % growth for 2025
China has started its annual parliamentary meeting, the two sessions, and its status The goal of GDP growth About 5 % for 2025.
Officials also reduced inflation expectations to about 2 %, while raising the budget deficit goal to 4 % of GDP, which is the highest since 2010.
The revised financial strategy comes as Beijing moves in an unconfirmed economic environment and intensify commercial conflicts with the United States.
Meanwhile, the last round of the American customs tariff entered Chinese goods on Tuesday, with an additional fee of 10 %, raising the total new customs duties on China to 20 %.
The United States also imposed a 25 % tariff on imports from Mexico and Canada, adding pressure on global trade flows.
The governor of the central bank in New Zealand is resigned
Reserve Bank in New Zealand (RBNZ) Governor Adrian Or announced his resignation Seven years later, with his departure on March 31.
Deputy Governor Christian Hoxi will act as a prosecutor until the end of March and will head the Monetary Policy Committee.
A temporary caliph will be appointed from April 1 for up to six months.
Bitcoin slices amid tariff fears
Bitcoin wiped its previous gains from President Trump’s declaration for encryption, and was struggling to maintain a level of $ 85,000 as uncertainty in the broader market was weighted. The cryptocurrency was traded by 2 % at 83,508 dollars, a decrease of 23 % from its highest level ever, according to currency standards.
The shares related to encryption were also under pressure, as Coinbase and Robinhood decreased by 2 % and 4 % in the pre -market trade, respectively.
Microstrategy (now known as the strategy) decreased by 4 %. Analysts warn that total economic uncertainty may continue to influence Bitcoin during the month of March, after the cryptocurrency has recorded its worst since 2022 in February.
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