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Asia markets lower on economic data | Asia markets lower on economic data |
(about 1 hour later) | |
Asian markets headed lower on Wednesday as investors became cautious ahead of central bank meetings and economic data this week. | Asian markets headed lower on Wednesday as investors became cautious ahead of central bank meetings and economic data this week. |
Investors are awaiting more details from the European Central Bank about its $1.23tn (£834bn) bond-buying programme. | Investors are awaiting more details from the European Central Bank about its $1.23tn (£834bn) bond-buying programme. |
In Japan, the benchmark Nikkei 225 closed down 0.6% at 18,703.6 - a one-week low - after disappointing data. | In Japan, the benchmark Nikkei 225 closed down 0.6% at 18,703.6 - a one-week low - after disappointing data. |
Japan's services sector shrank in February after three months of growth. | Japan's services sector shrank in February after three months of growth. |
The monthly purchasing managers' index (PMI) from research firm Markit fell to 48.5 from 51.3 in January, the lowest reading since April. A number below 50 indicates contraction in the sector. | The monthly purchasing managers' index (PMI) from research firm Markit fell to 48.5 from 51.3 in January, the lowest reading since April. A number below 50 indicates contraction in the sector. |
Shares of Sharp fell by as much as 10% after S&P cut its credit rating on the company following news that it plans to ask its lenders for more funding. Its shares closed down 5.3%. | Shares of Sharp fell by as much as 10% after S&P cut its credit rating on the company following news that it plans to ask its lenders for more funding. Its shares closed down 5.3%. |
The dollar fell to 119.68 yen from 119.74 yen in New York, coming off levels above 120 yen on Tuesday. | The dollar fell to 119.68 yen from 119.74 yen in New York, coming off levels above 120 yen on Tuesday. |
China services grow | China services grow |
In China, markets headed in opposite directions after a private survey showed that activity in its services sector grew in February with new orders rising at their quickest pace in three months. | In China, markets headed in opposite directions after a private survey showed that activity in its services sector grew in February with new orders rising at their quickest pace in three months. |
The HSBC/Markit services PMI rose to 52 last month from January's 51.8. | The HSBC/Markit services PMI rose to 52 last month from January's 51.8. |
On the mainland, the Shanghai Composite closed up 0.5% at 3,279.53, while Hong Kong's Hang Seng index fell nearly 1% to 24,465.38. | |
Australian shares closed lower after data showed that the economy grew at its slowest pace in 2014 on an annual basis in the fourth quarter. | Australian shares closed lower after data showed that the economy grew at its slowest pace in 2014 on an annual basis in the fourth quarter. |
The benchmark S&P/ASX 200 was down 0.5% at 5,901.6. | The benchmark S&P/ASX 200 was down 0.5% at 5,901.6. |
Australian regulators also said they were investigating the unusual spike in the Australian dollar before the central bank's decision to leave interest rates on hold on Tuesday. | Australian regulators also said they were investigating the unusual spike in the Australian dollar before the central bank's decision to leave interest rates on hold on Tuesday. |
The currency jumped almost half a US cent to about $0.7823 before the rate announcement and went on to hit a session high of $0.7845 after the decision was announced. | The currency jumped almost half a US cent to about $0.7823 before the rate announcement and went on to hit a session high of $0.7845 after the decision was announced. |
In South Korea, the Kospi index ended down 0.2% at 1,998.29. | In South Korea, the Kospi index ended down 0.2% at 1,998.29. |