Stocks in Shanghai and Hong Kong diverged for the second day in a row ahead of a pick-up in earnings releases. Market sentiment has been cautious after the release of the latest economic data, which confirmed a fragile and uneven economic recovery.
Japan's exports rose for the fourth month in a row, and the trade balance swung to a surplus for the first time in three months. Volume shipments to Asia and the European Union declined.
Market indexes in Shanghai and Hong Kong diverged based on differing interest rate expectations. Electric vehicle makers, banks, and property developers were among the most active stocks on two exchanges.
China's economic growth in the first quarter surpassed market expectations, but retail sales, industrial output, and the jobless rate highlighted a fragile and uneven economic recovery.
Market indexes in Hong Kong and Shanghai faced selling pressure on the worries of a wider war in the Middle East after Iran launched its first-ever direct attack on Israel.
Collectively, countries in the Belt and Road Initiative form the largest trading partner with China, as China's international trade increase crossed 10 trillion yuan for the first time in the first quarter.
Stock market averages in Tokyo extended weekly gains, and the Japanese government bond yield advanced. The yen drifted to a new 34-year low on the worry that the interest rate differential between the U.S. and Japan may not shrink in 2024.
Market indexes in Japan declined, tracking losses in New York after U.S. inflation accelerated for the third month in a row. The yen drifted to a new 34-year low after investors pared back U.S. rate-cut expectations in 2024.
Market indexes in China dropped after the yuan approached record lows, worries of a deepening malaise in the property market, and weak exports in March.
China's consumer price index barely rose in March after the demand was pulled in the previous month because of the Lunar New Year holidays. Consumers have also been in savings mode after the protracted property slum and the worry of job security.
China's passenger car sales in March rose at a slower pace amid intense price competition, cheaper new vehicles, and surging global exports of electric vehicles. Auto industry profit margins nearly halved in nine years.
Japan's producer price inflation slowed on an annual basis but held steady from the previous month in March. China's passenger vehicle sales rose amid intense price competition and cheaper new vehicle introductions.
Stocks in Shanghai declined after the latest inflation showed persistent demand weakness. The Hang Seng index fell more than 1% after U.S. rate-cut hopes were dented following the rise in U.S. inflation for the third month in a row.
Benchmark indexes in Japan, India, Hong Kong, and Australia advanced as investors looked beyond rate jitters and focused on the upcoming earnings season.
