Despite the slowdown, the measure remained above the 50 mark that separates activity contraction from expansion, and where it has been since January 2023.

China's services activity expanded at a slower pace in January, with the Lunar New Year holidays worsening employment, but business sentiment improved, a private sector survey showed on Wednesday. The Caixin/S&P Global services purchasing managers' index (PMI),

Asian markets mixed as US-China trade tensions rise. Hang Seng dips, Nikkei holds steady, and ASX 200 gains on Wall Street rally.