Stocks in Asia Mixed as China Optimism Fades Away – Asia Market Wrap

– Asian shares traded mixed but positive. Chinese holiday data did not justify earlier expectations.

– A barometer of Asia Pacific equities moved higher and was poised to rise for a third day, despite volatility in mainland Chinese stocks. The CSI 300 Index recovered from its losses, but Chinese shares in Hong Kong remained under pressure. Travel and tourist data during the Lunar New Year holiday earlier revealed that consumption increased despite the broader economy’s challenges with deflation and a real estate crisis.

– Traders are now hoping for additional policy support in China’s monetary and fiscal sectors, in addition to the previously announced reserve requirement ratio reduction. On Sunday, Chinese Premier Li Qiang called for “pragmatic and forceful” steps to bolster the country’s economic confidence.

– Concerns about China’s economy also drove iron ore down following five days of rises.