The latest economic data from China highlighted weak consumer demand, ongoing property market malaise, and solid growth in industrial output driven by sustained government spending.

Japan's GDP in the first quarter contracted more than expected due to a persistent weakness in private spending compounded by a weakness in business investment. 

Benchmark indexes in Shanghai and Hong Kong advanced ahead of earnings from leading tech companies later today and key economic data on Friday.

Benchmark indexes eased in the afternoon trading in Tokyo, and tech stocks were among the leading gainers. Sony advanced after reporting a surge in quarterly profit driven by gains in the movie and game businesses. Yokohama Rubber reported its second record quarterly sales in a row. Nitori plunged after sales and earnings declined. 

Stocks and benchmark indexes in Shanghai traded down amid rising trade tensions between the U.S. and China. Markets in Hong Kong were closed for a public holiday. China held its one-year medium-term lending rate at 2.5%. 

Benchmark indexes in Tokyo meandered, and the Japanese yen remained under pressure as traders prepared for the currency to resume its slide. Obyashi Corp., Toppan Holdings, and Furukawa Electric advanced after the release of earnings results. Daiwa Securities, Tosoh, and Nissan Chemical declined more than 5%.

Benchmark indexes in Shanghai and Hong Kong struggled after advancing in the previous five weeks. The Chinese yuan remained under pressure from the growing worries of competitive devaluation sparked by the persistent weakness in the Japanese yen.



Benchmark indexes in Tokyo eased ahead of the release of the GDP report later in the week. The yen hovered above the 155 mark as traders feared another market intervention. Kubota and Mitsui Fudosan declined after the release of their earnings. 

Benchmark indexes in Shanghai and Hong Kong overcame morning weakness as investors awaited earnings from Tencent Holdings and Alibaba Group. Consumer price inflation accelerated in April, but producer price inflation declined for the 19th consecutive month.

Market indexes in Shanghai and Hong Kong extended weekly gains in the hopes of regulators following through on the announced measures. The Hong Kong Stock Exchange said new application listings soared in the first quarter. 

Benchmark indexes in Tokyo lacked direction, and the yen held near its recent levels after real wages declined for the 27th month in a row in March.

China's exports and imports showed improving performance in April as international demand rebounded and domestic demand improved. However, international trade in the first four months to April struggled amid falling exports to the U.S. and the European Union. 

Market indexes in Shanghai advanced after investors returned from a five-day holiday break. The Hang Seng index lacked direction, but bargain hunters added positions in tech stocks in the hopes of higher earnings from supportive government measures. 

Hong Kong indexes extended weekly gains to 6% and this year's rise to 10% amid hopes of additional government measures to revive faltering market sentiment. 



Stocks in Japan struggled to advance amid the weakness in tech stocks following the U.S. Federal Reserve's hawkish comments and rate decisions. Sumitomo Pharma suspended its dividend and raised its estimate of losses in fiscal 2024.