{"id":46501,"date":"2024-04-30T08:38:04","date_gmt":"2024-04-30T08:38:04","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2024\/04\/30\/asian-shares-gain-led-by-japan-china-stocks-slip\/"},"modified":"2024-04-30T08:38:04","modified_gmt":"2024-04-30T08:38:04","slug":"asian-shares-gain-led-by-japan-china-stocks-slip","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2024\/04\/30\/asian-shares-gain-led-by-japan-china-stocks-slip\/","title":{"rendered":"Asian Shares Gain Led By Japan; China Stocks Slip"},"content":{"rendered":"
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Asian stocks rose broadly on Tuesday, with Chinese markets<\/span> underperforming after the release of mixed PMI data. <\/p>\n

The dollar rose against its major peers ahead of the Federal Reserve’s policy announcement, due Wednesday. <\/p>\n

Gold prices slipped in Asian trading while oil was little changed after falling sharply on Monday amid talks on potential ceasefire in the Gaza Strip. <\/p>\n

Chinese stocks ended lower after a mixed batch of business<\/span> activity readings. <\/p>\n

While a private survey painted a rosier picture of the manufacturing sector, official surveys revealed that manufacturing and services activity both expanded at a slower pace in April. <\/p>\n

The benchmark Shanghai Composite index dipped 0.26 percent to 3,104.82.<\/p>\n

Hong Kong’s Hang Seng index finished marginally higher at 17,763.03 amid buzz that yuan devaluation could be on the cards to make the Chinese economy<\/span> more competitive.<\/p>\n

Japanese markets led regional gains as trading resumed after a long holiday weekend. <\/p>\n

The Nikkei average jumped 1.24 percent to 38,405.66 as the U.S. dollar rose to the upper 156-yen range after seeing sharp gains the previous day on suspected intervention by authorities in the currency markets. <\/p>\n

The broader Topix index climbed 2.11 percent to 2,743.17 as government data showed Japan’s factory output grew more than expected in March. <\/p>\n

Japan’s retail sales grew substantially less than expected in March, while the unemployment rate remained unchanged from the previous month at 2.6 percent, separate data showed. <\/p>\n

Seoul stocks edged up slightly even as monthly activity data pointed to a patchy economic recovery. The Kospi average inched up 0.17 percent to 2,692.06. <\/p>\n

Samsung Electronics rose over 1 percent after the world’s largest memory chip maker said operating profit jumped 932.8 percent in the first quarter ending March, reflecting the global AI development boom.<\/p>\n

Australian markets eked out modest gains as disappointing retail sales data pushed back fears of imminent rate hikes. <\/p>\n

The benchmark S&P ASX 200 rose 0.35 percent to 7,664.10 while the broader All Ordinaries index settled 0.32 percent higher at 7,932.<\/p>\n

Banks ended mostly higher ahead of trading updates in early May. <\/p>\n

Azure Minerals soared 8.2 percent as a takeover offer for the company by SH Mining progressed with a key approval received from the Foreign Investment Review Board.<\/p>\n

Across the Tasman, New Zealand’s benchmark S&P NZX-50 index edged up 0.35 percent, to 11,957.50.<\/p>\n

U.S. stocks eked out modest gains overnight to extend last week’s gains as the Fed meeting loomed and Tesla said it had cleared its path to roll out self-driving software in China.<\/p>\n

The Dow and the tech-heavy Nasdaq Composite both rose about 0.4 percent while the S&P 500 added 0.3 percent. <\/p>\n<\/p>\n<\/div>\n