The People's Bank of China lowered its 1-year and 5-year loan prime rates by 10 basis points to support economic expansion and soften the negative impact of the U.S. tariff episode.
Stock market indexes in Japan turned lower amid ongoing trade tensions with the U.S. Investors fear that the surge in U.S. tariffs is likely to push Japan's economy into a recession and accelerate consolidation in the automobile industry.
China markets struggled to advance after a flood of economic data indicated resilient manufacturing activities. New home prices continued to soften for the 22nd consecutive month in April.
Japan's GDP contracted in the first quarter after the international trade deficit overwhelmed the stable consumer and government spending. The Nikkei 225 Stock Average edged up a fraction after a week of volatile trading.
China and Hong Kong market indexes trimmed weekly advances after Alibaba Group's quarterly results fell short of market expectations. Three companies listed their stocks in China and Hong Kong, raising a total of $265 million.
A growing list of leading Japanese corporations announce a negative impact from Trump tariffs, and the auto industry is expected to face about 1.5 trillion yen, or $10.3 billion, in tariff-related hits in the current fiscal year.
Japan's producer price inflation in April was positive for the 35th consecutive month. The Nikkei 225 Stock Average and the Topix erased early April losses after the U.S. launched a tariff war.
China and Hong Kong stock market indexes rebounded after JD.com reported a sharp rise in revenue and earnings in the first quarter. China's e-commerce companies are accelerating their push to attract export-driven companies to sell in the domestic market.
The Nikkei 225 Stock Average and Topix rebounded, tracking overnight gains on Wall Street after the U.S. and China halted the implementation of the previously announced sky-high tariffs.
China and Hong Kong stock market indexes turned lower amid fading hopes of additional stimulus measures and ongoing uncertainty about the U.S. trade agreement.
Japan's current account surplus rose to a record high for the second consecutive financial year 2024, driven by a rise in primary income and international trade surplus.
China and Hong Kong stock market indexes advanced after the U.S. and China trade talks negotiators sent positive signals in their public statements. However, the two sides are poles apart in their expectations, and an agreement is less likely in the imminent future.
Japan's stock market indexes extended gains for the fifth consecutive week after nominal household spending and wages advanced in March. Inflation-adjusted spending declined for the second consecutive month amid rising food prices.
