Asian Stocks Are Mixed After Chinese PMI Rises And Japanese Capital Spending Jumps

Asian markets opened mixed after Fed chairman Ben Bernanke said the U.S. economy was recovering slowly but remained cautious in his remarks, and after Chinese PMI made its third consecutive gain.

Japanese stocks posted gains after the yen weakened, and the Ministry of Finance revealed that capital spending jumped 7.6 percent in the fourth quarter. This crushed expectations for a 6.5 percent contraction.

Here's how the markets look:

Japan's Nikkei 225 is up 0.37%

China's Shanghai Composite is up a modest 0.12%

Hong Kong's Hang Seng is down 0.48%

Australia's S&P/ASX 200 is down 0.67%

South Korea's Kospi is closed for a holiday.

• FREAKY: The S&P Is RIGHT Where It Was On Leap Day Eve In 2008
  
• Even Super-Bull Jeff Saut Thinks This Rally Is Getting 'Unnatural'
  
• CHART OF THE DAY: By This Measure, Stocks Are Still Incredibly Cheap