Asian markets mixed following US gains

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Most Asian markets experienced mixed fortunes on Wednesday following record closes in the US and the eurozone's approval of reform proposals submitted by Greece for its bailout.

Hong Kong's Hang Seng index closed up 0.1% at 24,778.28.

Investors shrugged off news that the territory's economy had missed growth expectations for 2014, expanding by 2.3% compared with 2.9% a year earlier.

Hong Kong's Finance Secretary John Tsang also delivered the budget.

He pledged $37m; (£23.9m) to support businesses disrupted by last year's pro-democracy protests.

He also said he was waiving various licensing and administration fees for restaurants, hotels and travel agencies to try to boost tourism.

Elsewhere in Asia

Markets on mainland China were open after a week off over the new year celebrations.

The Shanghai Composite index ended the day down 0.6% at 3,228.84. HSBC's latest factory activity report indicated Chinese export orders in February had shrunk at their fastest rate in 20 months.

In Japan, the benchmark Nikkei 225 gave up early gains to close down 0.1% at 18,585.20.

The index had closed at a 15-year high on Tuesday, marking five days of gains.

Australia's benchmark S&P/ASX 200 index closed up 0.3% at 5,944.91, while in Korea, the Kospi share index closed up 0.73% at 1,990.47.

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