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ASIA ECONOMICS: Asian Markets Wrap

Much of Asia was closed for Lunar New Year holidays. Japan's Nikkei lost 0.2% while South Korea's Kospi was flat amid mixed earnings reports, which included disappointing results from Panasonic and stronger sales forecasts from Kao. The ASX 200 rallied more than 1%, led by financials as investors celebrated the final report from a public inquiry into misconduct in the financial services sector, which turned out to be less harsh than feared. The sector surged 4.5%, the most in almost a decade, according to Bloomberg calculations. The RBA left the cash rate on hold as expected and conceded that some downside risks have increased, but didn't signal an easing bias, as some had expected.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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