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.

Benchmark indexes in Japan, India, South Korea, and Australia traded higher, tracking Friday's advance on Wall Street. China indexes struggled amid ongoing economic uncertainty. Gold traded at a new high after China increased its holding for the 17th month in a row.

Asian markets closed generally down following sharp losses in Tokyo, Hong Kong, Seoul, and Sydney. The yen struggled to hold against the U.S. dollar after the recent move by the BOJ failed to impress currency traders.

Asian markets declined after investors pared back rate cut optimism following a string of strong positive economic data in the U.S. Higher commodity and crude oil prices also weighed on market sentiment. Taiwan was struck with the strongest earthquake in 25 years.

Asian markets struggled to hold above the flatline amid global interest rate uncertainties, rising geopolitical tensions between China and the U.S., and a fragile and uneven economic recovery in China.



Japan's business sentiment at large corporations weakened, and factory activities continued to shrink for the tenth month in a row in March. China's manufacturing activities edged higher in March. India's stocks advanced on economic optimism.

The Nikkei 225 stock average jumped 3% in March and soared 21.3% in the first quarter, leading world markets. Japan's jobless rate edged up, retail sales rose, and industrial production edged lower in February. In the Tokyo area, inflation eased in March.

Bank of China, ICBC, China Communications Bank, and Agriculture Bank of China reported an increase in net profit in 2023, a tighter net interest margin, and improved non-performing loan ratios. 

China steps up its coddling of foreign business leaders while the government pursues its plan to provide more financial support to state-controlled enterprises.

The Nikkei 225 dropped after investors booked profits. China indexes advanced after better-than-expected earnings from Haier Smart Home, China Life, and ICBC.

Alibaba Group canceled the initial public offering of its logistic unit in Hong Kong after weak demand from investors. The electric vehicle maker BYD reported a record annual profit in 2023, but its cautious outlook dampened the mood in China. The Japanese yen dropped to a 34-year low as the Nikkei advanced to a new record high. 

China market indexes edged higher after PetroChina, China Merchants Bank, and China Resources Land reported better-than-expected earnings. The Japanese yen hovered near a 4-month low.



Benchmark indexes in Tokyo closed lower, and the yen continued to trade near multi-decade lows. Indexes in Shanghai and Hong Kong advanced ahead of earnings releases later in the week. Meituan and China Hongqiao reported better-than-expected financial results.