China Set an 2014 Annual Economic Growth Target of 7.5 percent, Unchanged from 2013, Most Asian Stocks Rising

Good morning fellas, Asian stock markets seems higher, as reported from Bloomberg, The MSCI Asia Pacific Index climbed 0.8 percent by 9:17 a.m. in Tokyo, rising the most on a closing basis since Feb. 21 as shares from Japan to South Korea (KOSPI) and Australia jumped. Standard & Poor’s 500 Index futures dropped 0.1 percent following the gauge’s return to a record high.

The Japanese yen traded at 102.24 per dollar after its steepest one-day decline since Jan. 14. Silver rose 0.3 percent while rubber added 1.2 percent. Australian government bonds retreated a second day.
China set an annual economic growth target of 7.5 percent, unchanged from 2013, according to the transcript of a report Premier Li Keqiang will give at an annual Communist Party meeting in Beijing today.

Ukraina tensions update, Russia played down the risk of an immediate invasion of Ukraine yesterday, shifting the focus somewhat back to the global economy with gauges of services industries in China, India, the U.S. and Europe due today. Australia is projected to post faster growth for last quarter.

“The immediate future confirmation of a 7.5 percent growth target will be seen as a relief,” Ric Spooner, the Sydney-based chief analyst at CMC Markets, said by e-mail before details of the premier’s work report were released. Russia’s “indication that military force would only be used in an extreme case saw a general risk-on scramble,” Spooner said.