Tech stocks powered the market rally in China for the second consecutive week and in Hong Kong for the fifth consecutive week. China's consumer price inflation accelerated in January, but producer price deflation extended to the 28th consecutive week.

Japan's benchmark indexes trimmed weekly advance after indexes halted a three-day rally. Household spending expanded at the fastest pace in December, but in real terms fell for the second consecutive year in 2024.

The Hang Seng index extended its weekly advance to 5%, and the CSI 300 index gained nearly 2%, driven by the sustained rally in tech stocks.

Japan's indexes advanced for the third day in a row, tracking gains in tech stocks on Wall Street. Honda ended merger talks with Nissan and proposed to acquire the struggling automaker. Nippon Electric Glass announced a stock repurchase plan. Marubeni lifted its annual net income outlook.

China indexes staged a mild rebound, but investors braced for more uncertainty in trade relations and additional barriers for shipments to the U.S.

Benchmark indexes in Tokyo advanced for the second consecutive day, driven by a rally in semiconductor equipment stocks. Panasonic Holdings lifted its fiscal year revenue and earnings outlook. Isetan Mitsukoshi reported a surge in earnings in the nine-month period ending in December.

Stock market indexes in China and Hong Kong turned lower after investors returned from the Lunar New Year holidays. China imposed a symbolic levy on about 12% of imports from the U.S. in retaliation to the U.S. tariffs and the U.S. Postal Service temporarily blocking parcels from China and Hong Kong.



Larsen & Toubro reported a surge in revenue and earnings in the December quarter. Bajaj Finserve said net income rose at a slower pace in the latest quarter. Adani Ports said container cargo volume growth slowed to 4% from 10% in the previous quarter.

Stock market indexes lacked direction on Wall Street as attention shifted from the Federal Reserve to a slew of earnings from leading technology and industrial companies. GDP growth in the fourth quarter eased to the slowest pace in three quarters.

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Ambuja Cements reported a sharp jump in revenue and earnings in its latest quarter on the sustained increase in production. Bajaj Finance reported a strong increase in revenue and earnings and a rise in net interest income in the latest quarter.

Bajaj Auto and TVS Motor reported a rise in revenue and earnings, but Hyundai Motor said profit plunged in the December quarter. Hindustan Zinc, Cipla, Arvind Limited, and Suzlon Energy reported strong quarterly results.

Japan's benchmark indexes struggled to advance a day after the Bank of Japan raised rates and signaled the possibilities of additional rate hikes in the near future.

China's top financial regulator announced additional measures to facilitate stock market investments for large investment and insurance companies. Business activities in the manufacturing and the services sectors slowed in January.

Bank of India and Au Small Finance reported a rise in revenue and earnings in the December quarter, reflecting the strength in demand for consumer and corporate loans.



The Bank of Japan lifted its policy rate by 25 basis points, revised higher its inflation outlook, and lowered its GDP growth estimate for the current fiscal year. Consumer price inflation accelerated for the second month in a row in December.