Asian stock markets ended unevenly on Monday, as Japan’s Nikkei outperformed on the back of a rally led by Toyota, while Chinese and Hong Kong markets remained subdued amid conflicting signals regarding U.S.-China trade.

Major Index Movements

• Nikkei 225: +0.5%

• TOPIX: +1.1%

• Shanghai Composite: flat

• CSI 300: flat

• Hang Seng: -0.1%

• KOSPI: +0.2%

• ASX 200: +0.8%

• Straits Times: -0.5%

Toyota’s Supplier Buyout Sparks Auto Rally

• Toyota Motor (TYO:7203 / NYSE:TM): +5.5% after reports of a $42 billion bid for parts maker Toyota Industries (OTC:TYIDF).

• Peer Gains: Nissan (OTC:NSANY) +2.5%; Honda (TYO:7267) +1.2%.

• Broader Impact: Boosted Japanese automakers and lifted the Nikkei index.

Trade-Tariff Whiplash

• Trump Administration Stance: The White House hinted at a reduction of China tariffs, which Treasury Secretary Scott Bessent later contradicted, maintaining uncertainty over U.S.-China trade relations.

• China’s Position: Beijing has ruled out negotiations unless threats cease.

• Investor Outlook: Caution prevails as U.S. futures drifted lower during Asia’s trading hours.

Central Bank Watch

• BOJ Meeting: The Bank of Japan meets on May 1, expected to maintain current interest rates amid global uncertainties.

• China PMIs: Both official and Caixin manufacturing figures are scheduled for release Wednesday, serving as essential indicators of the tariff impact on China’s industrial activity.

What to Watch Tomorrow

1. China Official & Caixin PMIs (Wednesday)

2. BOJ Policy Decision (May 1)

3. U.S. Futures Reaction to trade announcements

Track Today’s Top Gainers

For a real-time snapshot of today’s biggest movers like Toyota’s impressive surge, check the Market Biggest Gainers API.