Asia market
Beijing, China (BBN)-Asian markets headed lower on Wednesday as investors became cautious ahead of central bank meetings and economic data this week.
Investors awaited more details from the European Central Bank about its $1.23tn (£834bn) bond-buying program expected to be announced at its Friday meeting, reports BBC.
In Japan, the benchmark Nikkei 225 was down 1% to 18,626.62 after disappointing data.
The services sector shrank in February after three months of growth.
Markit’s monthly index fell to 48.5 from 51.3 in January, the lowest reading since April.
A number above 50 shows growth in the sector.
Shares of Sharp fell as low as 6.5% after S&P cut its credit rating on the company following news that it plans to ask its lenders for a debt-for-equity swap.
The dollar fell to 119.62 yen, off from Tuesday’s high of 120.27 yen.
In China, markets headed in opposite directions after a private survey showed that activity in its services sector grew in February as new orders rose at their quickest pace in three months.
The HSBC/Markit Services Purchasing Managers’ Index (PMI) rose to 52 last month from January’s 51.8.
On the mainland, the Shanghai Composite was up 0.7% to 3,285.75, while Hong Kong’s Hang Seng index traded flat at 24,699.17.
Australian shares headed lower after data showed that the economy grew at its slowest pace in 2014 on an annual basis in the fourth quarter.
The benchmark S&P/ASX 200 was down 0.3% to 5,917.7.
In South Korea, the Kospi index was lower by 0.1% to 1,999.37.
BBN/SK/AD-04Mar15-9:50am (BST)