Benchmark indexes in Tokyo advanced, and the rebound in the yen raised the prospect of market intervention by the government. Factory output recovered, retail sales rose, and the jobless rate held steady in March.
ICBC and the Agriculture Bank of China reported a decline in earnings for the first time in a year after net interest rate margins narrowed. China's manufacturing and service sectors showed moderate growth amid a protracted property market slump and its spillover effects in the banking sector.
Stocks in Shanghai and Hong Kong extended gains after AIA reported a sharp jump in new business value in the first quarter. The Hang Seng index stretched to a 20% gain from the low reached on January 22.
The Bank of Japan held steady its interest rate range, lifted its inflation outlook, and reiterated its commitment to purchase Japanese government bonds. The Japanese yen tumbled to a new 34-year low as traders recalibrated their rate outlook for the near future.
Investors in Shanghai and Hong Kong bid up stocks on earnings optimism. CNOOC said quarterly earnings rose by 24%. BYD Auto repurchased its own stock. Guolian Securities said it plans to acquire privately-held Minsheng Securities as the brokerage industry ramps up consolidation.
Stocks struggled in Tokyo ahead of the Bank of Japan's rate decisions on Friday. The yen dropped to a new 34-year low and fell below the 155 mark against the U.S. dollar. Canon's earnings fell short of market expectations.
China indexes advanced in the hopes that quarterly results would exceed lowered expectations amid fragile economic recovery, weak consumer sentiment, and protracted property market malaise.
Benchmark indexes in Japan soared more than 2%, tracking gains in tech stocks in overnight trading in New York. The yen hovered near the 34-year low ahead of the Bank of Japan's rate decision later in the week.
Stocks in Shanghai struggled amid weak interest, but market indexes in Hong Kong advanced, tracking gains in tech stocks in overnight trading in New York. Mobvoi plunged 15% in its debut trading, indicating weak investor sentiment for its initial public offering.
Stocks in Japan advanced for the second consecutive session in a row, tracking gains in overnight trading in New York. Honda is nearing an agreement with the Canadian government to build an electric vehicle manufacturing plant.
Stocks in Shanghai edged lower, but market indexes in Hong Kong advanced for the second day in a row. ChaPanda tea store network operator's stock plunged on the first day of trading in Hong Kong's largest public offering so far in 2024.
The Chinese securities regulator announced additional reforms to facilitate the listing of mainland Chinese companies on the Hong Kong Stock Exchange. The People's Bank of China held steady 1-year and 5-year loan prime rates.
The Nikkei 225 index extended its weekly loss to 4.5%, and crude oil prices jumped 4% after the rapid escalation of tensions between Iran and Israel. Semiconductor stocks extended weekly losses to more than 10% following losses in New York trading.
Market indexes in Shanghai and Hong Kong dropped and extended weekly losses after large explosions were confirmed in Iraq, Syria, and near nuclear installations in western Iran.
