Posted 4/12/2024, 3:32:31 PM
Asian Stocks Mixed on Middle East Tensions and China Trade Worries, Yellen Visits China for Economic Talks
- Asian equities declined over the week due to Middle East tensions and weak Chinese trade data. Hong Kong internet stocks managed gains.
- US Treasury Secretary Janet Yellen visited China this week for productive meetings with top officials.
- China's March CPI inflation came in below estimates at +0.1% year-over-year despite rising pork prices.
- Electric vehicle sales in China surged 35% year-over-year in March according to auto industry data.
- Hong Kong stocks declined Friday on broad risk-off sentiment, wiping out weekly gains. Mainland markets also closed mostly lower.