05:44 AM EST, 03/05/2025 (MT Newswires) -- Asian stock markets tracked higher Wednesday after leaders at

the National People's Congress in Beijing vowed that China's economy would expand at the planned 5% in 2025, and following US Commerce Secretary Howard Lutnick tempered statements on tariffs.

Hong Kong, Shanghai and Tokyo finished in the green, as did most other regional exchanges.

In Japan, the Nikkei 225 opened higher, waffled, but finished up 0.2% as traders looked for values after recent declines.

The benchmark Nikkei 225 rose 87.06 to 37,418.24, as gaining issues outnumbered losers 142 to 82.

Leading the upside was electrical equipment maker Fujikura, up 7.4%, while semiconductor-manufacturing equipment maker Disco declined 6.9%.

In economic news, the Japan service-sector purchasing managers index (PMI) logged at 53.7 in February, up from 53.0 in January, and rising further above the 50-marker that separates growth from contraction, reported S&P Global.

The Japan composite PMI, a combination of the nation's manufacturing and service sectors, struck 52.0 in February, up from 51.1 in January.

In Hong Kong, the Hang Seng Index opened higher and rose to the close, finishing up 2.8% on optimism that Beijing would boost macroeconomic stimulus.

The broad gauge Hang Seng rose 652.44 to 23,594.21 as gaining issues outnumbered losers 77 to five. The Hang Seng TECH Index gained 4% on the day, while the Mainland Properties Index rose 0.5%.

Leading the upside was conglomerate CK Hutchinson, gaining 21.9% after disclosing plans to sell assets, including ports near the Panama Canal. Tool-maker Techtronic declined 3.7%.

On the mainland, the Shanghai Composite rose 0.5% to 3,341.96.

In economic news, the headline Caixin/S&P Global China services purchasing managers index (PMI) struck a seasonally adjusted 51.4 in February, up from 51.0 in January.

The China composite PMI, a combination of the manufacturing and service sectors, improved to 51.5 in February, up from 51.1 in January, added S&P Global.

On the other regional exchanges, the S. Korean KOSPI rose 1.2%; the Taiwan TWSE inclined 1.2%; the Australian ASX 200 declined 0.7%; the Singapore Straits Times Index rose 0.2%, and the Thai Set inclined 2.5%. In late trading in Mumbai, the Sensex was up 1%.