The U.S. ramped up its tariffs on all imports, and goods shipped from China attracted a cumulative 54% import tax as promised by the White House. Benchmark indexes dropped 2.5% in the holiday-shortened week and fell to the lowest level since February 20.
China stocks consolidated ahead of the start of the earnings season and news about the U.S. import tax. Investors remained cautious amid a worry of additional tariffs on Chinese goods starting as early next month.
Japan's business sentiment among large manufacturers dropped to a one-year low in the first quarter. Japan's jobless rate unexpectedly eased in February, and the labor market expanded for the 31st consecutive month.
China indexes extended monthly and quarterly gains after a private survey showed activities in the manufacturing sector expanded at the fastest pace in four months.
Japan's benchmark indexes plunged following losses on Wall Street amid looming U.S. tariffs. Retail sales advanced for the 35th month in a row, and industrial output rebounded in February.
China's manufacturing sector activities expanded for the second consecutive month, and the non-manufacturing activities rose for the third consecutive month in March. The finance ministry arranged the injection of capital in the four largest banks.
Japanese automakers are bracing for higher U.S. tariffs and competition from Chinese electric vehicle makers. The Nikkei index extended weekly losses amid corporate earnings growth worries.
The yield on 10-year Japanese government bonds advanced to a sixteen-year high after BOJ Governor Ueda reiterated the central bank's commitment to keep raising rates if economic projections are met.
Benchmark indexes in mainland-China and Hong Kong traded in a tight range, and investors lacked urgency amid elevated trade and geopolitical uncertainties.
Benchmark indexes in China and Hong Kong continued to slide amid valuation worries. Xiaomi Corp. completed its secondary offering. BYD and BYD Electronics reported strong financial results.
Japan's weakness in manufacturing activities overshadowed the private sector activities in March. Stock market indexes edged lower for the third consecutive day in a row.
Benchmark indexes in China and Hong Kong lacked direction after falling sharply in the previous week, and investors are bracing for the next round of U.S. tariffs.
