** China's blue-chip CSI300 Index edged up 0.03% at the lunch break, while the Shanghai Composite Index gained 0.17%%.
** Hong Kong benchmark Hang Seng was up 0.71%, and Hang Seng China Enterprises Index rose 1.03%.
** Asian shares rose on Friday after Wall Street reversed
losses on signals of a measured policy tightening approach from
the U.S. Federal Reserve as well as on prospects of a solid
economic recovery in China.
** Activity in China's services sector expanded at the
fastest pace in six months in February as the removal of tough
COVID-19 restrictions revived customer demand, data from a
private sector survey showed on Friday.
** The Caixin/S&P Global services purchasing managers' index
(PMI) rose to 55.0 in February from 52.9 in January. The
50-point mark separates expansion and contraction in activity on
a monthly basis.
** "Sentiment improved ahead of National People's Congress
(NPC) as a stronger and broader growth recovery unfolded in
February," Morgan Stanley said in a research note published on
Thursday.
** The annual session of the NPC kicks off this weekend and
will set economic targets and elect new top economic officials.
** "We expect further upside for Chinese equities as the
macro story stays intact," it said.
** Leading the gains in China were aerospace and
defence-related stocks. Shenzhen-listed AVIC Xian Aircraft
Industry Group rose 5.11%, hitting a near four-month
high.
** The CSI Semiconductors and Semiconductor Equipment Index gained 1.51%.
** In Hong Kong, oil stocks such as ENN Energy also supported gains in the blue-chip Hang Seng Index, up 3%.
** Wynn Macau dropped to a three-month low, down
5.07%, after announcing a proposed $600 million convertible bond
issuance that matures in 2029. The bonds are convertible into
shares at a price of HK$10.24 per share.
(Reporting by Georgina Lee; Editing by Sherry Jacob-Phillips)
