In Asian Equity Markets Chinese bourses led gains across Asian stock markets on Wednesday after data showed that business activity in the country rose to pre-COVID levels, although lingering fears of rising U.S. interest rates and weak data from other regions kept broader gains limited. China’s Shanghai Shenzhen CSI 300 and Shanghai Composite indexes rose 1.4 percent and 0.9 percent, respectively. Hong Kong’s Hang Seng index jumped 3.3 percent. Japan’s Nikkei 225 index rose 0.2 percent, while Australia’s ASX 200 index rose 0.1 percent.

In Currency Markets the dollar eased on Wednesday after China’s manufacturing activity expanded at its fastest pace since April 2012 and exceeded forecasts, sending traders flocking towards riskier assets on renewed optimism and away from the safe-haven dollar. The euro rose 0.14 percent to $1.0591, recouping some of its losses from the previous session. Sterling edged 0.22 percent higher to $1.2045. Elsewhere, the dollar rose 0.15 percent against the Japanese yen to 136.41. The kiwi rose 0.52 percent to $0.62165, while the Aussie gained 0.3 percent to $0.6749.

In US Equity Markets stocks closed out February in subdued fashion and each of the three major indexes ended with monthly declines, as investors continue to assess whether interest rates will remain high for an extended period of time. The Dow fell 0.71 percent, to 32,656.7, the S&P 500 lost 0.30 percent, to 3,970.15 and the Nasdaq Composite fell 0.1 percent, to 11,455.54. Target Corp gained 1.01 percent after the big-box retailer reported a surprise rise in holiday-quarter sales but cautioned on 2023 earnings due to an uncertain U.S. economy.

In Commodities Markets oil prices rose on Tuesday, erasing the previous session’s losses, as hopes for a strong economic rebound in China offset worries about U.S. interest rate hikes dragging down consumption in the world’s biggest economy. Brent crude futures for April , which expired on Tuesday, settled higher by 1.8 percent, at $83.89 a barrel. U.S. WTI crude futures gained 1.8 percent, to $77.05 a barrel. Spot gold rose 0.6 percent to $1,828.28 per ounce. Spot silver gained 1.6 percent to $20.95 per ounce, and platinum firmed 1.8 percent to $954.91, while palladium lost 0.8 percent to $1,419.72.

In European Equity Markets stocks fell on Tuesday after data from France and Spain pointed to inflation being stickier than feared, but still ended their second straight month higher supported by sharp gains in rate-sensitive banking stocks. The continent-wide STOXX 600 index lost 0.3 percent, after closing sharply higher in the previous session. Bayer fell 3.9 percent after the agriculture and healthcare company said operating earnings would likely decline in 2023. Ocado sank 12.2 percent, to the bottom of the STOXX 600, after the online supermarket and technology group reported a worse-than-expected full-year loss.

In Bond Markets Treasury yields traded little changed on Tuesday as the market awaits data on consumer prices and the labor market in the coming weeks to better gauge the pace of inflation and how long the Federal Reserve will keep interest rates higher. The yield on benchmark 10-year Treasury notes hit a fresh 11-week high of 3.983 percent, while the rates-sensitive two-year note rose close to an almost four-month high before easing to trade almost flat. The yield on the 30-year Treasury bond was up 0.2 basis points to 3.921 percent.