Asia-Pacific markets mostly advance on Tuesday, mirroring Wall Street’s overnight rebound, as traders awaited further details on US President Donald Trump’s tariff plans ahead of his so-called “Liberation Day.” Fresh data from China lifted sentiment after a private survey showed that factory activity in the mainland grew the most in four months, following Monday's official data that revealed the manufacturing sector expanded at the fastest pace in a year. Japan ( NKY:IND ) rose 0.02% to surpass 35,700, while the broader Topix Index gained 0.8% to reach 2,680 on Tuesday, recovering some of the losses from the previous session. The Japanese yen was little changed around 149.8 per dollar on Tuesday, struggling for clear direction as investors digested mixed economic data. Japan’s unemployment rate unexpectedly declined to 2.4% in February from 2.5% in the previous month, defying forecasts for no change. Separate data showed, the Au Jibun Bank Japan Manufacturing PMI was revised higher to 48.4 in March 2025 from 48.3 in the preliminary estimates, but below the prior month of 49, marking the ninth consecutive month of contraction. However, business sentiment weakened in the first quarter, reflecting mounting concerns over the potential impact of US tariffs on Japan’s export-driven economy. China ( SHCOMP ) rose 0.28% to surpass 3,350, while the Shenzhen Component edged up 0.4% to 10,550 on Tuesday, with mainland stocks rebounding after a two-day decline as investors reacted positively to strong factory activity data., and the offshore yuan fell to around 7.27 per dollar on Tuesday, as the looming implementation of President Donald Trump’s reciprocal tariffs overshadowed positive manufacturing PMI data. The Caixin China General Manufacturing PMI expansion accelerated to 51.2 in March 2025, up from February’s 50.8, surpassing expectations of 51.1, reaching a four-month-high amid robust external demand. Hong Kong ( HSI ) rose 0.15% to 23,247 in morning deals on Tuesday, halting the bearish trend of the prior two sessions, supported by gains in tech, energy, and consumer services. India ( SENSEX ) fell 1.49% to 76,544 in early deals on Tuesday, retreating for the second consecutive day as traders took profits after returning from holiday amid global trade uncertainty. Australia ( AS51 ) rose 1.04% on Tuesday, surpassing 7,870. The Australian dollar remained steady around $0.625 on Tuesday after the Reserve Bank of Australia kept its cash rate unchanged at 4.1%, as widely expected . Separately, on the data front, Australian retail sales rose less than expected in February, indicating softening domestic consumption. The S&P Global Flash Australia Manufacturing PMI climbed to 52.1 in March 2025 from 50.4 in February, the final reading showed. The Reserve Bank of Australia’s Index of Commodity Prices fell 6.5% year-on-year in March 2025, slowing from an upwardly revised 8.9% drop in the previous month. In the U.S., on Monday, all three major indexes ended higher kicking off the week on a positive note. However, the Nasdaq 100 lagged, falling 0.1% as investors navigated economic growth concerns and escalating trade tensions. U.S. stock futures declined on Tuesday as investors braced for President Donald Trump's upcoming tariff announcements: Dow -0.22% ; S&P 500 -0.28% ; Nasdaq -0.37% . Meanwhile, traders are closely watching key labor market reports, including job openings data on Tuesday, the ADP employment report on Wednesday, and the monthly payrolls report on Friday, which could provide fresh insights into the Federal Reserve’s rate-cut trajectory. Currencies: ( JPY:USD ), ( CNY:USD ), ( AUD:USD ), ( INR:USD ), ( HKD:USD ), ( NZD:USD ). More on Asia: Japan’s unemployment rate unexpectedly drops to 2.4% in February China’s Mar manufacturing activity accelerates to four-month high amid robust external demand Japan's Feb industrial production exceeds expectations, retail sales fall short of forecasts China’s factory activity expands at fastest pace in March, services sector growth hits three-month high Australia’s monthly CPI eased to three-month low of 2.4% in February
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