Gold Prices Slip Slightly in Asia as Silver Nears Record Highs on Dovish Fed Outlook 
U.S. Dollar Slides for Third Straight Week as Rate Cut Expectations Boost Euro and Pound 
Hong Kong Cuts Base Rate as HKMA Follows U.S. Federal Reserve Move 
Asian Currencies Hold Steady as Indian Rupee Slides to Record Low on Fed Outlook 
Silver Prices Surge to New Record Above $60 as Supply Concerns and Fed Expectations Boost Demand 
BOJ Expected to Deliver December Rate Hike as Economists See Borrowing Costs Rising Through 2025 
Mexico Moves to Increase Tariffs on Asian Imports to Protect Domestic Industries 
Fed’s Dovish Tone Sends Dollar Lower as Markets Price In More Rate Cuts 
Modi and Trump Hold Phone Call as India Seeks Relief From U.S. Tariffs Over Russian Oil Trade 
Wall Street Futures Dip as Broadcom Slides, Tech Weighed Down Despite Dovish Fed Signals 
Oil Prices Rebound in Asia as Venezuela Sanctions Risks Offset Ukraine Peace Hopes 
Asian Stocks Slip as Oracle Earnings Miss Sparks AI Profitability Concerns 
Australia’s Labour Market Weakens as November Employment Drops Sharply 
U.S. Open to Special Trade Terms for South Africa Under Possible AGOA Extension 
Asian Currencies Steady as Fed Delivers Hawkish Rate Cut; Aussie and Rupee Under Pressure 
Japan Weighs New Tax Breaks to Boost Corporate Investment Amid Spending Debate 
Wall Street Futures Slip as Oracle Earnings Miss Reignites AI Spending Concerns 
Asian stock markets were mostly flat on Wednesday as investors weighed weak factory activity data from China and Japan, alongside Australian inflation figures and heightened regional tensions.
China’s official manufacturing PMI slipped to 49.0 in April from 50.5 in March, marking the first contraction since December 2023 and signaling pressure from aggressive U.S. tariffs under President Donald Trump. A 145% levy on Chinese goods and declining overseas orders contributed to the downturn, prompting speculation over new stimulus measures. The Shanghai Composite and CSI 300 were largely unchanged, while Hong Kong’s Hang Seng edged up 0.3%.
Japan’s industrial output dropped 1.1% month-on-month in March, surpassing forecasts for a 0.5% decline. Disruptions in auto part supply chains—linked to a 25% U.S. tariff on vehicles and a 10% levy on all Japanese imports—dampened momentum. The Nikkei 225 was flat, while the TOPIX rose 0.4% as markets reopened after a holiday.
In Australia, Q1 CPI data showed a slightly higher-than-expected rise, but core inflation eased into the RBA’s 2%-3% target range. This bolstered expectations for a 25 basis point rate cut at the central bank’s May 20 meeting. The S&P/ASX 200 rose 0.3%.
Elsewhere, India’s Nifty 50 fell 0.2% as geopolitical tensions surged. Pakistan warned of a potential Indian military strike within 24 to 36 hours, following accusations over a deadly attack in Indian Kashmir.
South Korea’s KOSPI also declined after reports emerged that prosecutors raided the private residence of ousted President Yoon Suk Yeol, who was removed from office after declaring martial law last December.
Investors largely shrugged off modest overnight gains on Wall Street as focus remained on upcoming U.S. PCE inflation data and corporate earnings.
