Asian Stocks to Trend Lower After Treasuries Drop: Markets Wrap

-- Stocks in Asia were mostly set to decline after a US session dominated by a sell-off in bonds, with traders also weighing mixed economic data and remarks from Federal Reserve speakers for clues on the policy outlook.Catering to the Ultra-Rich Is a Booming Business in Australia

Nvidia Corp. rallied 7% after the Information reported Elon Musk has indicated its artificial intelligence startup xAI — which has raised $6 billion — will use the chipmaker’s H100 graphics processing units. Economists expect the personal consumption expenditures price index minus food and energy — due on Friday — to rise 0.2% in April. That would mark the smallest advance so far this year for the measure, which provides a better snapshot of underlying inflation.

Apple Inc.’s iPhone staged a rebound in China last month with shipments rising 52% amid a flurry of discounts from retail partners.

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