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Asia-Pacific markets trade mixed as investors parse key regional data

Cityscape and Tokyo Tower at sunset, Tokyo, Japan.
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This is C온라인카지노사이트's live blog covering Asia-Pacific markets.

Asia-Pacific markets traded mixed Wednesday as traders parse a slew of key economic data in the region.

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Japan's benchmark rose 0.14% while the Topix added 0.5%. South Korea's slipped 0.2% and the Kosdaq dipped 0.25%.

Australia's benchmark traded flat. Hong Kong's Hang Seng Index slid 0.53% while China's CSI 300 traded flat after China's manufacturing activity fell more-than-expected into contractionary territory in April.

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The Bank of Japan kickstarts its policy meeting on Wednesday, and is widely expected to hold rates at 0.5% when the meeting concludes on Thursday.

Investors are also parsing a slew of key economic data in the region. Australia's first-quarter inflation rose 2.4% compared to the same period last year, higher than the Reuters expectation of a 2.3% climb. Meanwhile, China's manufacturing activity fell more-than-expected to a near two-year low, sliding into contractionary territory in April as the escalating trade war with the U.S. hurts bilateral trade.

President Donald Trump said Tuesday that tariff negotiations with India are and he believes the U.S. will strike a trade deal with the South Asian nation.

Speaking at a White House press briefing, Treasury Secretary Scott Bessent said the administration also held "substantial talks" with  over a possible trade deal, and that "the contours of a deal" with  could be coming together.

Stock futures tied to the Dow Jones Industrial Average were little changed Tuesday night after the blue-chip index posted its longest winning run since July. Futures tied to the 30-stock  fell 6 points, or 0.01%.  slipped 0.2%, while  lost 0.4%.

Overnight stateside, the three major averages closed higher. The  rose on Tuesday, hitting its highs of the day.

The Dow climbed 300.03 points, or 0.75%, to close at 40,527.62. The  gained 0.58%, ending at 5,560.83. Both indexes posted a sixth straight positive day, marking the longest win streak since July for the Dow and since November for the S&P 500. The  advanced 0.55%, settling at 17,461.32.

— C온라인카지노사이트's Sean Conlon, Alex Harring and Erin Doherty contributed to this report.

Weakening rupiah carries larger risks for Indonesian corporates than banks, says Fitch Ratings

Fitch Ratings warns that further depreciation of the Indonesian rupiah could increase pressure on companies needing to refinance near-term U.S. dollar bond maturities and those heavily dependent on imports.

In contrast, Indonesian banks are likely to face limited direct impact from currency fluctuations, Fitch Ratings' analysts wrote in a note.

The Indonesian rupiah has weakened almost 4% against the greenback since the start of the year.

—Lee Ying Shan

Australia first-quarter inflation holds steady at 4-year low of 2.4%

Australia's first-quarter inflation rose 2.4% compared to the same period last year, staying at a four-year low.

This was higher than the Reuters expectations of a 2.3% climb and unchanged from the 2.4% rise in the previous quarter.

Inflation in the country has largely been softening after hitting a  since the quarter ended December 2022, with the headline inflation rate declining for seven of the nine quarters since then.

Read the full story .

—Lim Hui Jie

China's factory activity drops to a near two-year low in April as trade tariffs bite

China's manufacturing activity fell more-than-expected to a near two-year low, sliding into contractionary territory in April as the escalating trade war with the U.S. hurts bilateral trade.

The official purchasing managers' index came in at 49.0 in April, falling below the 50-level threshold which determines expansion from contraction, for the first time since January, according to data from the National Bureau of Statistics on Monday.

That reading missed the analysts' expectations for a 49.8 contraction in a Reuters poll, marking a notable slowdown after China's manufacturing activity grew at its , as exporters front-loaded outbound shipments to avoid higher duties.

Read the full story .

—Anniek Bao

Samsung’s first-quarter operating profit and revenue beat expectations as chip sales rise

' operating profit and revenue beat analysts' estimates Wednesday, as chip sales rose amid worries of U.S. President Donald Trump's "reciprocal" tariffs coming into effect.

The South Korean company posted a 10% jump in first-quarter revenue from a year earlier, while its operating profit climbed 1.5%.

Shares of Samsung Electronics traded flat after the results.

Read the full story .

—Dylan Butts, Lee Ying Shan

Japan's factory output in March fell more than expected

Japan's industrial production declined by 1.1% in March compared to the previous month according to , a sharper drop compared to the 0.4% decline expected by economists polled by Reuters.

Industries that mainly contributed to the drop were motor vehicles, electrical machinery, as well as business oriented and general-purpose machinery, the official statement noted.

—Lee Ying Shan

Stocks close in positive territory

The three major averages rose on Tuesday.

The Dow Jones Industrial Average jumped 300.03 points, or 0.75%, to finish at 40,527.62. The S&P 500 gained 0.58% to close at 5,560.83, and the Nasdaq Composite rose 0.55% to end at 17,461.32.

— Sean Conlon

John Paulson sees gold rising to almost $5,000 in 3 years

John Paulson, who made a killing during the great financial crisis, sees gold rising to almost $5,000 an ounce by 2028 amid trade tensions and central banks' buying, according to an interview with Reuters.

Gold is widely viewed as a safe-haven asset and a hedge against rising global uncertainties. The bullion climbed in an unprecedented rally to notch a record high at $3,500.05 an ounce last week.

"It's a well-informed prediction. I think that's a reasonable number," Paulson said. "As central banks and people look to put their money in a more stable source … I think gold will increase its position in the world."

The famed investor is the largest shareholder in Idaho gold and antimony developer Perpetua Resources. He also bought a 40% stake in NovaGold's Donlin gold project in Alaska from Barrick.

— Yun Li

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