Posted 4/2/2024, 6:22:04 AM
Hong Kong Stocks Rise While Vanke Plunges; Asia-Pacific Markets Mixed on Inflation and Growth Concerns
- Hong Kong stocks led Asian market gains on Tuesday, though China real estate developer Vanke's shares plunged over 10%
- South Korea's consumer prices rose 3.1% in March over last year, unchanged from February
- Australia's manufacturing sector contracted at its fastest pace since May 2020
- The S&P 500 dipped from its record high on Monday, while the Dow dropped 0.6%; a jury awarded over $500M in damages related to a negligence case against Universal Health Services
- A U.S. manufacturing report showed unexpected growth in March, sparking Treasury yield jumps; the data could sway Fed interest rate cut expectations