Hong Kong stocks led gains in Asian markets on Tuesday, with the Hang Seng index rising 2.7% to 16,981.43. However, China real estate developer Vanke saw its Hong Kong-listed shares slump more than 10% after reporting a significant decrease in core profit for 2023 and no dividend payout.
In South Korea, the Kospi edged 0.1% higher after data showed a 3.1% increase in consumer prices in March compared to the same period last year. Meanwhile, Australia’s S&P/ASX 200 gained less than 0.1% despite a contraction in the manufacturing sector index.
On Wall Street, the S&P 500 and Dow Jones Industrial Average dipped from their record highs, while the Nasdaq composite managed to add 0.1%. FedEx fell 3.3% after announcing it would not extend its contract with the U.S. Postal Service for air cargo delivery.
In the bond market, Treasury yields rose after U.S. manufacturing unexpectedly returned to growth last month, snapping a 16-month run of contraction. This latest economic data could impact the Federal Reserve’s decision on interest rates.
Overall, the global markets are closely watching economic reports and data releases this week that could influence the Fed’s thinking on interest rates and inflation. Stay tuned for more updates on market trends and developments.
