Investing.com-- Most Asian stocks kept to a tight range on Tuesday as investors digested a mixed batch of Chinese business activity readings, while Japanese markets rose sharply in catch-up trade after a long weekend.
Still, a rebound in Chinese markets largely persisted in April, with local stock indexes set to outperform their regional peers for the month. The CSI300 was up 2.5% in April, while the Shanghai Composite was trading up 2.6%.index rose 0.6% on Tuesday and was by far the best-performing Asian index in April. The Hang Seng was trading up about 7.6% in April, after racing to a five-month high on bargain buying and optimism over more stimulus measures in the mainland.
But the Nikkei was by far the worst performer in Asia through April, as it was slapped with a heavy dose of profit-taking, while uncertainty over the Bank of Japan’s policies also weighed. The Nikkei was down nearly 5% in April, while the TOPIX shed 0.9%.in March, which could herald a lower inflation outlook. Weak commodity prices and concerns over China put the ASX on course for a 3.2% drop in April.index pointed to a muted open after the index added 1% in the prior session.
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