This blog will keep track of key global and local developments impacting business and markets through the day. Important local and global political developments will also find resonance here.
07:36 Japan March final manufacturing PMI cools slightly
Japanese manufacturing activity expanded at a slightly slower pace in March as growth in new orders and output moderated slightly though the economy overall remained in solid shape, reports Reuters. The Final Markit/Nikkei Japan Manufacturing Purchasing Managers Index (PMI) fell to 53.1 in March on a seasonally adjusted basis, slightly below a preliminary 53.2 and below a final 54.1 in February.
07:32 Asia stocks begin new quarter on modest gainsAsian stocks began the new quarter on Monday with mild gains following a strong performance by global equities last week, while the dollar held steady awaiting key economic indicators, reports Reuters. South Korea's KOSPI gained 0.8% and Japan's Nikkei edged up 0.2%. Markets in Australia, Hong Kong and New Zealand were closed on Monday for the Easter holiday. The SGX Nifty is trading mildly lower at 10,235.
07:16 China imposes tariffs in response to US duties on steel, aluminiumChina has slapped extra tariffs up to 25% on 128 US products including frozen pork, as well as on wine and certain fruits and nuts, in response to US duties on imports of aluminium and steel, China’s Finance Ministry said. The tariffs, to take effect on Monday, was released late on Sunday and matches a list of potential tariffs on up to $3 billion in US goods published by China on March 23, reports Reuters.