** China's blue-chip CSI 300 Index gained 0.94%, while the Shanghai Composite Index climbed 0.9%.
** Hang Seng Index advanced 1.05% and Hang Seng China Enterprises Index rose 1.82%.
** Asia's stock markets steadied, with signs of a slowdown
in U.S. wages bolstering hopes that the Fed could hint at an end
to rate hikes at its meeting later in the day.
** China's factory activity shrank more slowly in January
after Beijing lifted tough COVID curbs late last year.
** The Caixin/S&P Global manufacturing purchasing managers'
index (PMI) nudged up to 49.2 in January from 49.0 the previous
month but missed expectations in a Reuters poll of 49.5.
** China will establish a long-term mechanism for growing
consumption so that consumers can buy with stable income and
"without worries", China's President Xi Jinping was quoted as
saying by state media on Wednesday.
** Meanwhile, Nomura chief China economist Ting Lu raised
China's 2023 annual GDP growth forecast to 5.3% from 4.8%.
** "The rapid ending of the '(COVID) exit wave' has paved
the way for a consumption rebound," Ting said in a note on
Wednesday, but warned that the market's attention may soon
return to some structural and short-term growth barriers.
** By sector, the non-ferrous metal sector jumped 3.1%, while semiconductor stocks climbed
1.8% after a 3% drop on Tuesday as Washington halted licenses
for U.S. companies to export to Huawei.
** In Hong Kong, Hang Seng Tech Index surged 3.4%.
** Electric vehicle (EV) giant BYD saw shares in Hong Kong and Shenzhen soar 6.1% and 6.5%
respectively, as the Chinese firm starts EV sales in Japan and
earlier expected a surge in 2022 profit.
(Reporting by Summer Zhen; editing by Uttaresh.V)
