(Bloomberg) — Stocks in Asia were mixed as investors focused on China’s policy meeting after official announcements of an ambitious 5% growth target. Tech heavyweights drove Asian peers lower, ahead of Federal Reserve Chair Jerome Powell’s Congressional testimony.
Most Read from Bloomberg
Shares in Hong Kong rose at the open while those in mainland China slipped amid the 14th National People’s Congress. Equity benchmarks pared earlier losses in Japan, while shares fell in South Korea and Australia. Tech equities underperformed the regional stock gauge, with Taiwan Semiconductor Manufacturing Co. and Samsung Electronics Co. leading losses.
“The National People’s Congress will be a major driver of Asian markets today, with market participants generally underwhelmed by the messaging about economic support coming from the central government,” said Kyle Rodda, senior market analyst at Capital.Com Inc.
A press conference with…
