China-controlled funds stepped up market intervention and increased investment in exchange traded funds. Japan's trade gap shrank after exports rose and imports declined in January.
Asian markets lacked momentum, and the benchmark indexes in Tokyo struggled to advance. Market indexes in Shanghai staged a slight rebound after investors returned from a week-long holiday. India indexes lacked direction after the end of the earnings season last week.
The Nikkei index in Tokyo neared its all-time record high in 1989 as foreign investors continued to increase exposure. The Hang Seng index in Hong Kong rebounded after bargain hunters returned. The Sensex in Mumbai extended its weekly gain.
Benchmark indexes in Tokyo and Mumbai and the yen drifted to a new 35-year low. The Hang Seng index rebounded from morning losses, but property developers were among the leading decliners.
Japan's economy contracted in the fourth quarter after the weakness in private consumption and weak government spending overcame the strength in international trade. India's current account deficit is set to shrink further in the current fiscal year.
Benchmark indexes in Japan jumped 2% after investors returned from a three-day holiday. India indexes rebounded from morning weakness, and consumer price inflation eased in January.
Market indexes in India looked down, and investors prepared for a busy week of earnings and economic releases. Markets in Greater China, Japan, South Korea, Malaysia, and Singapore are closed for public holidays.
Hong Kong stocks extended losses to the third day ahead of the Lunar New Year holidays. The Nikkei index closed at a new 34-year high amid a surge in tech stocks. India indexes turned lower on mixed corporate earnings.
Japan's current account rose less than expected in December. China's producer price and consumer price inflation fell in January, extending a multi-month decline in a row. The Reserve Bank of India held its key lending rate steady.
The Reserve Bank of Australia held its key lending rate steady and reiterated its commitment to lower inflation to its target rate over the next two years. The Chinese sovereign wealth fund stepped up purchases of Chinese stocks to stabilize financial markets.
Lawson agreed to go private and accepted the tender offer from KDDI. GS Yuasa reported better-than-expected financial results. Yum China announced stock repurchase plan. Britannia Industries net plunged.
The advance in the Nikkei index in Tokyo was supported by positive earnings and the persistent weakness of the yen. China indexes were under pressure after regulatory warnings fell short of specific steps. India indexes trended higher in volatile trading.
South Korea's exports rose. In January, shipments to eight of its nine major markets rebounded. China's factory activities expanded in January, according to a private survey, contradicting the official survey.
Japan's retail sales and industrial output rose less than expected in December. China's factory activities shrank for the fourth month in a row but service sector expanded. The Hang Seng index extended monthly losses.
