Profit growth at industrial companies in China accelerated in April, as Beijing's measures to shore up economic growth amid trade uncertainties supported business activities.
Japan's consumer price inflation held steady, and the core rate of inflation rose to a two-year high amid elevated food prices. So far the government's efforts to contain rice price increases have failed.
Stock market indexes in China and Hong Kong advanced and extended gains for the sixth consecutive week amid a busy week of initial public offerings in Hong Kong.
Stock market indexes in China and Hong Kong lacked direction, and investors debated the outlook for earnings and the economy. Investors remain cautious amid stretched valuations, trade uncertainties, and weak consumer confidence.
The yen strengthened for the seventh consecutive session amid rising inflow of foreign funds. Japan's annual trade deficit shrank in April after exports rose at the slowest pace in seven months.
Benchmark indexes in China and Hong Kong extended gains a day after the PBOC lowered rates for the first time in seven months. Investors are hoping that the central bank may deliver additional rate cuts and trim reserve requirement ratios in the months ahead.
The U.S. and Japan are likely to start their third round of trade talks as early as Friday, amid low expectations for a relief in import duties on Japanese vehicles and parts.
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.
