Japan's wholesale prices accelerated in March and South Korea's GDP expanded in the first quarter driven by private consumption. Tech stock led decliners in Hong Kong, Seoul and Tokyo.
Asian markets were defensive amid lackluster trading and Japan reported 20th trade deficit in a row in March. Banks in China held their one-year and 5-year lending rates in April.
Asian markets traded higher tracking gains in overnight trading in New York after wholesale inflation unexpectedly fell. Singapore left its key lending rate unrevised using its currency control as a policy tool.
Asian markets muted gains a day after oil producing nations aligned with OPEC+ announced voluntary production cuts. The Reserve Bank of Australia paused its interest rate hike. Hong Kong intervened in the currency market for the third time this year.
North Korea stepped up its short and long range missiles firing in the last three days prompting Japan to request an emergency meeting of the UNSC. China held its key lending rates. Last week, container freight rates from China to North America and Europe plunged to a new low over twelve months.
Asian markets closed lower on the renewed worries of aggressive rate hikes in the U.S. Singapore's exports plunged on the weakness in demand for electronics products.
Japan's trade deficit soared in January to record levels on soaring costs of energy. Domestic sales of smartphones in China rebounded in January. India's overall trade deficit shrank largely on the rise in service exports but goods exports fell.
Market indexes in Asia closed down on the worries that the Federal Reserve may continue its aggressive rate hike plan after inflation level stayed far above the level preferred by the Federal Reserve.
Japan's GDP expanded at a slower pace in calendar year 2022 but industrial production rose for the second month in a row in December. India's wholesale inflation slowed in January to the lowest level in two years.
Japan is set to release its GDP data and announce a nominee for the Bank of Japan governor on Tuesday. Higher loans from Chinese banks lifted hopes of faster post-pandemic recovery in China. India's inflation accelerated in January.
The ending of ultra-loose monetary policy and revising inflation expectations are awaiting the next leader of the Bank of Japan. The latest inflation data in China suggested a slower recovery in consumer spending.
China stocks rebounded on the hopes of faster economic recovery after three years of social mobility restrictions. The alleged spy balloons from China are spotted over five continents.
Asian markets closed higher after dovish comments from the Fed Chair lifted mood in the region. The Japanese yen advanced and bond yields were stable and investors in China awaited earnings results next week.
Advanced semiconductor equipment makers and semiconductor chip makers were in focus in Tokyo and Shanghai after the U.S. led alliance struck a deal to limit exports to China.
Benchmark indexes in Tokyo, Seoul and Hong Kong advanced on the hopes that the largest economy in the world may avoid a recession. India awaits the Union Budget as the faster growing economy among G20 looks for ways to accelerate manufacturing.
