(MENAFN) In Asia-Pacific markets, Hong Kong stocks led gains, with the Hang Seng index surging 2.15 percent as traders returned from a prolonged weekend. Notably, shares of Xiaomi soared nearly 15 percent following the consumer electronics company's commencement of orders for its newly launched electric vehicle.
Meanwhile, economic data from South Korea and Australia drew investor attention. South Korea's March inflation rate held steady at 3.1 percent, aligning with expectations from economists polled by Reuters. Conversely, Australia witnessed its factory activity contract at the fastest pace since May 2020, as its purchasing managers' index (PMI) declined to 47.3 in March from 47.8 in February.
Later in the day, factory activity data from India is anticipated, with economists polled by a UK-based news agency expecting a robust PMI reading of 59.4.
Despite the positive performance of Hong Kong stocks, China's CSI 300 index experienced a marginal decline of 0.25 percent. South Korea's Kospi edged up by 0.12 percent, while the Kosdaq slid 2.24 percent in response to the inflation reading.
In Australia, the S&P/ASX 200 slipped 0.14 percent to 7,886, retracting from its recent all-time highs. Conversely, Japan's Nikkei 225 rebounded slightly, posting a gain of 0.1 percent, while the broader-based Topix index dipped by 0.29 percent.
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