Asian markets are primed for a positive start to the new quarter following more evidence of the U.S. "soft landing" on Friday and figures on Sunday that showed manufacturing and service sector activity in China last month accelerated in tandem. Asia's economic calendar is packed with key indicators — manufacturing purchasing managers index reports from several countries including Japan; South Korean trade; Indonesian inflation; and Japan's quarterly tankan business conditions surveys. The exchange rates of Asia's two largest economies will once again be under the spotlight - Japan's yen remains in "intervention" territory, and while China's yuan is also under pressure against the dollar but is at a 30-year high against the yen.
The CNN Money Fear and Greed index showed a decline in overall market sentiment, but the index remained in the "Extreme Greed" zone on Wednesday. U.S. stocks closed higher on Wednesday, with the Dow Jones notching a new closing high during the session. The S&P 500 also hovered near its closing record of 4,796.56 recorded during Jan. 2022.