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U.S. DOLLAR ADVANCES AGAINST MAJORS

The U.S. dollar strengthened against other major currencies in the Asian session on Monday.

The U.S. dollar rose to more than a 1-month high of 134.11 against the yen, a 6-day high of 1.2383 against the pound and a 5-day high of 1.0962 against the euro, from last week's closing quotes of 133.73, 1.2412 and 1.0993, respectively.

Against the Swiss franc and Australian dollar, the greenback advanced to 4-day highs of 0.8959 and 0.6690 from Friday's closing quotes of 0.8935 and 0.6708, respectively.

If the greenback extends its uptrend, it is likely to find resistance around 137.00 against the yen, 1.20 against the pound, 1.07 against the euro, 0.91 against the franc and 0.65 against the aussie

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US stock market advances on Monday

US stock markets have demonstrated a slight increase, with the Dow Jones Industrial Average rising by 0.3%, the S&P 500 index climbing by 0.33%, and the NASDAQ growing by 0.28%. Throughout the trading day, the indices showed even smaller growth, with the Dow Jones rising by only 0.06%, the S&P 500 increasing by 0.05%, and the NASDAQ initially falling by 0.08%.

Market participants are currently focused on companies publishing their earnings reports for the previous quarter. At the end of last week, major US banks such as JP Morgan Chase & Co., Wells Fargo, and Citigroup released their reports, which showed record profits for the past quarter. Analysts have attributed this to rising interest rates, which have boosted their revenues.

Today, other US banks, including Bank of America, Goldman Sachs, and Bank of New York Mellon, are expected to release their reports. Earning reports in the banking sector reports have so far exceeded analysts' predictions. However, traders should wait for the publication of reports from other major companies, such as Johnson & Johnson and Netflix.

According to recent data, economic growth in the US has slowed down. This information has left market participants somewhat perplexed whether the Federal Reserve will continue to increase the key interest rate or pause the hike cycle. More statements from Federal Reserve policymakers are expected later this week.

The manufacturing PMI for the current month reached 10.8 points, significantly exceeding market forecasts and the negative figure of 24.6 in the previous month. Meanwhile, the NAHB housing market index for April came in at 45 points, surpassing the forecasted 44 points.

In corporate news, Samsung Electronics, one of the largest electronics manufacturers, has announced plans to replace Google's search engine with Microsoft Bing for its devices. Following this news, shares of Alphabet, Google's parent company, fell by 3.3%, while Microsoft's shares rose by 0.6%.

Following the news of an impending $10.8 billion deal between Prometheus Biosciences, Inc. and Merck & Co., Inc., shares of Prometheus soared by 69%.

On the Dow Jones index, Walgreens Boots Alliance, Inc. rose by 1.76%, The Travelers Companies, Inc. gained 1.73%, and Boeing Co. increased by 1.65%. In the meantime, UnitedHealth Group, Inc. and Amgen, Inc. declined by 1.26% and 0.77% in their share prices, respectively.

On the S&P 500, M&T Bank Corp. advanced 7.78%, Enphase Energy, Inc. grew by 7.67%, and Digital Realty Trust, Inc. appreciated 7.15%. Conversely, State Street, Moderna, and Signature Bank experienced share price declines of 9.18%, 8.35%, and 5.85%, respectively.

Among companies on the NASDAQ index, the best performing stock was Presto Automation, Inc. which surged by 160.43%, followed by ContraFect Corp. at 154.44% and Blackboxstocks, Inc. at 107.2%. On the other hand, shares of Marpai, Inc., Pear Therapeutics, Inc., and Laser Photonics Corp. Unit declined by 43.32%, 33.61%, and 31.95%, respectively.

On the New York Stock Exchange, 1,809 stocks advanced while 1,160 stocks declined. A similar trend was observed on the NASDAQ exchange, where 2,291 stocks increased while 1,278 stocks declined. The forex market was mixed, with EUR/USD slipping by 0.65% to 1.09. USD/JPY climbed by 0.52% to 134.46.

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US stock market closes mixed, Dow Jones down 0.03%

On Tuesday, investors assessed the financial reports of companies. Bank Of America, Goldman Sachs, and Bank of New York Mellon reported their results for the previous quarter, with their shares falling by 0.8%, 2.9%, and 1.7% respectively. Meanwhile, Johnson & Johnson's stock price fell by 2%.

Traders also paid attention to American statistics. The number of new homes in the US, the construction of which began in March, decreased by 0.8% compared to the revised February figure and amounted to 1.42 million. The indicator was expected to be at the level of 1.4 million.

At the close of the New York Stock Exchange, the Dow Jones fell by 0.03%, the S&P 500 index rose by 0.09%, and the NASDAQ Composite index fell by 0.04%.

Among the Dow Jones components, the leading gainers at the end of today's trading were shares of Boeing Co (NYSE: BA), which rose by 3.34 points (1.63%), closing at 208.37. Home Depot Inc (NYSE: HD) quotes rose by 3.55 points (1.20%), ending the trade at 298.95. Shares of JPMorgan Chase & Co (NYSE: JPM) increased in price by 1.57 points (1.12%), closing at 141.40.

The leading decliners were shares of Johnson & Johnson (NYSE: JNJ), the price of which fell by 4.66 points (2.81%), ending the session at 161.01. Shares of Goldman Sachs Group Inc (NYSE: GS) rose by 5.77 points (1.70%), closing at 333.91, while Verizon Communications Inc (NYSE: VZ) fell in price by 0.52 points (1.32%) and ended the trade at 38.94.

Among the S&P 500 components, the leading gainers at the end of today's trading were shares of Tyler Technologies Inc (NYSE: TYL), which rose by 3.42% to 375.00, PulteGroup Inc (NYSE: PHM), which gained 3.30%, closing at 62.59, and shares of State Street Corp (NYSE: STT), which increased by 3.05%, ending the session at 74.90.

The leading decliners were shares of Catalent Inc (NYSE: CTLT), which fell in price by 7.42%, closing at 42.06. Shares of Signature Bank (OTC: SBNY) lost 6.73% and ended the session at 0.15. Quotes of DISH Network Corporation (NASDAQ: DISH) fell in price by 4.66% to 7.78.

Among the NASDAQ Composite components, the leading gainers at the end of today's trading were shares of BELLUS Health Inc (NASDAQ: BLU), which rose by 98.90% to 14.44, Agrify Corp (NASDAQ: AGFY), which gained 73.91%, closing at 0.30, and shares of Oblong Inc (NASDAQ: OBLG), which increased by 61.22%, ending the session at 3.45.

The leading decliners were shares of China Jo-Jo Drugstores Inc (NASDAQ: CJJD), which fell in price by 85.85%, closing at 0.68. Shares of United Insurance Holdings Corp (NASDAQ: UIHC) lost 48.28% and ended the session at 1.80. Quotes of Tempest Therapeutics Inc (NASDAQ: TPST) fell in price by 40.27% to 2.21.

On the New York Stock Exchange, the number of falling stocks (1,624) exceeded the number of those closing with gains (1,340), while the quotes of 110 stocks remained virtually unchanged. On the NASDAQ stock exchange, shares of 2,143 companies fell, 1,474 rose, and 147 remained at the previous closing level.

The CBOE Volatility Index, which is based on trading indicators for options on the S&P 500, fell by 0.71% to 16.83, reaching a new 52-week low.

Gold futures for June delivery added 0.54%, or 10.85, reaching $2.00 per troy ounce. As for other commodities, WTI oil futures for June delivery rose by 0.06%, or 0.05, to $80.88 per barrel. Brent oil futures for June delivery fell by 0.02%, or 0.02, to $84.74 per barrel.

Meanwhile, in the Forex market, the EUR/USD pair remained virtually unchanged, with a 0.44% increase to 1.10, while the USD/JPY quotes fell by 0.31%, reaching 134.04.

The USD index futures dropped by 0.36% to 101.43.

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US stock market closes down, Dow Jones falls by 0.33%

Investors also continue to monitor the earnings season. On Wednesday, after the market closed, Tesla released its financial results for the last quarter. The company reported a 24% drop in profits and attributed this to a reduction in electric vehicle prices. Tesla shares are down 7.5%.

At the close of the New York Stock Exchange, the Dow Jones fell by 0.33%, the S&P 500 index dropped by 0.60%, and the NASDAQ Composite index fell by 0.80%.

Among the growth leaders in the Dow Jones index components at the end of today's trading were shares of Walgreens Boots Alliance Inc (NASDAQ:WBA), which rose by 0.54 points (1.55%), closing at 35.37. Visa Inc Class A (NYSE:V) quotes increased by 2.03 points (0.87%), ending the trading session at 234.60. Johnson & Johnson (NYSE:JNJ) shares rose in price by 1.05 points (0.65%), closing at 163.58.

The least gainers were shares of Verizon Communications Inc (NYSE:VZ), whose price fell by 1.41 points (3.65%), finishing the session at 37.19. Cisco Systems Inc (NASDAQ:CSCO) shares rose by 1.46 points (3.04%), closing at 46.58, while The Travelers Companies Inc (NYSE:TRV) fell in price by 3.31 points (1.81%) and ended trading at 179.26.

Among the growth leaders in the S&P 500 index components at the end of today's trading were shares of Snap-On Inc (NYSE:SNA), which rose by 7.97% to 258.89, Lam Research Corp (NASDAQ:LRCX), which gained 7.23%, closing at 526.52, and shares of DR Horton Inc (NYSE:DHI), which increased by 5.64%, ending the session at 107.60.

The least gainers were shares of SVB Financial Group (OTC:SIVBQ), which fell in price by 18.10%, closing at 0.76. Shares of Signature Bank (OTC:SBNY) lost 15.98% and ended the session at 0.16. AT&T Inc (NYSE:T) quotes decreased in price by 10.41% to 17.65.

Among the growth leaders in the NASDAQ Composite index components at the end of today's trading were shares of Augmedix Inc (NASDAQ:AUGX), which rose by 88.89% to 3.40, United Insurance Holdings Corp (NASDAQ:UIHC), which gained 62.42%, closing at 2.68, and shares of Cns Pharmaceuticals Inc (NASDAQ:CNSP), which increased by 48.02%, ending the session at 2.62.

The least gainers were shares of Windtree Therapeutics Inc (NASDAQ:WINT), which fell in price by 57.68%, closing at 2.37. Shares of Bed Bath & Beyond Inc (NASDAQ:BBBY) lost 35.34% and ended the session at 0.30. Quotes of Via Renewables Inc (NASDAQ:VIA) decreased in price by 27.75% to 13.25.

At the New York Stock Exchange, the number of depreciated stocks (1887) exceeded the number of those closing in the positive (1053), while quotes for 105 shares remained virtually unchanged. On the NASDAQ stock exchange, shares of 2321 companies became cheaper, 1258 increased, and 183 remained at the previous closing level.

The CBOE Volatility Index, which is formed based on trading indicators for options on the S&P 500, rose by 4.31% to 17.17.

Gold futures for June delivery added 0.48%, or 9.65, reaching $2.00 per troy ounce. As for other commodities, prices for WTI crude oil futures for June delivery fell by 2.64%, or 2.09, to $77.15 per barrel. Brent crude oil futures for June delivery fell by 2.78%, or 2.31, to $80.81 per barrel.

Meanwhile, in the Forex market, the EUR/USD pair did not change significantly, up 0.12% to 1.10, while the USD/JPY quotes fell by 0.33%, reaching the 134.24 level.

The USD index futures dropped by 0.13% to 101.53.

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Bitcoin reaches buying zone

Bitcoin crashed in the short term and now is trading at 28,106. After its strong growth, a retreat was natural. The rate could test and retest the near-term support levels before developing a new leg higher.

BTC/USD dropped by 10.33% from last Friday's high of 31,035 to 27,828 today's low. It's down by 1.83% in the last 24 hours and by 6.95% in the last 7 days.

BTC/USD Massive Drop!

Technically, BTC/USD turned to the downside after failing to reach and retest the upper median line (uml) of the ascending pitchfork. Now, it has reached the median line (ml) of the ascending pitchfork which represents a dynamic support.

27,723 represents a downside obstacle as well. As long as it stays above the median line, BTC/USD could develop a new leg higher.

BTC/USD Outlook!

False breakdowns below the median line (ml) and through 27,723 announce a new leg higher and could bring new long opportunities.

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The US stock market closed mixed, with the Dow Jones adding 0.20%

Investors continue to monitor the earnings season. For example, the net profit attributable to shareholders of Coca-Cola Company for the first quarter increased by 12% year-on-year, amounting to $3.1 billion. The company's quarterly operating revenue rose by 5% year-on-year, reaching $10.98 billion. Coca-Cola shares are up nearly 1%.

At the close of the New York Stock Exchange, the Dow Jones rose 0.20%, the S&P 500 index rose 0.09%, and the NASDAQ Composite index fell 0.29%.

Leading the gains among the components of the Dow Jones index at the end of today's trading were shares of Caterpillar Inc (NYSE:CAT), which rose by 3.16 points (1.43%), closing at 223.43. Chevron Corp (NYSE:CVX) stock prices increased by 2.36 points (1.40%), finishing the session at 171.48. Nike Inc (NYSE:NKE) shares rose in price by 1.56 points (1.24%), closing at 127.09.

The least gainers were Intel Corporation (NASDAQ:INTC) shares, which fell by 0.64 points (2.11%), ending the session at 29.66. Salesforce Inc (NYSE:CRM) shares rose by 4.11 points (2.07%), closing at 194.92, while American Express Company (NYSE:AXP) shares fell in price by 3.19 points (1.95%) and finished trading at 160.59.

Leading the gains among the components of the S&P 500 index at the end of today's trading were shares of First Republic Bank (NYSE:FRC), which rose by 12.20% to 16.00, Lumen Technologies Inc (NYSE:LUMN), which gained 8.52%, closing at 2.42, as well as shares of Albemarle Corp (NYSE:ALB), which increased by 5.86%, ending the session at 183.94.

The least gainers were Carrier Global Corp (NYSE:CARR) shares, which fell in price by 7.25%, closing at 41.94. KeyCorp (NYSE:KEY) shares lost 3.97% and ended the session at 11.13. AT&T Inc (NYSE:T) stock prices fell by 3.79% to 17.53.

Leading the gains among the components of the NASDAQ Composite index at the end of today's trading were shares of In8bio Inc (NASDAQ:INAB), which rose by 183.02% to 3.00, Aclarion Inc (NASDAQ:ACON), which gained 73.00%, closing at 1.28, as well as shares of Netcapital Inc (NASDAQ:NCPL), which increased by 72.48%, ending the session at 1.52.

The least gainers were shares of Bed Bath & Beyond Inc (NASDAQ:BBBY), which fell in price by 35.67%, closing at 0.19. Shares of Scilex Holding Co (NASDAQ:SCLX) lost 29.31% and ended the session at 7.26. Petros Pharmaceuticals Inc (NASDAQ:pTPI) stock prices fell by 27.68% to 3.84.

On the New York Stock Exchange, the number of shares that increased in price (1,593) exceeded the number that closed lower (1,366), while the prices of 92 shares remained virtually unchanged. On the NASDAQ Stock Exchange, shares of 2,242 companies fell, 1,367 rose, and 150 remained at the previous closing level.

The CBOE Volatility Index, which is based on trading indicators of S&P 500 options, increased by 0.72% to 16.89.

Futures on gold for June delivery added 0.44%, or 8.75, reaching the mark of $1,000 per troy ounce. As for other commodities, the prices of WTI crude oil futures for June delivery rose by 1.12%, or 0.87, to $78.74 per barrel. Futures on Brent crude oil for July delivery increased by 1.26%, or 1.03, to the mark of $82.49 per barrel.

Meanwhile, on the Forex market, the EUR/USD pair rose by 0.53% to 1.10, and the USD/JPY quotes increased by 0.10%, reaching the mark of 134.29.

Futures on the USD index dropped by 0.46% to 101.08.

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CANADIAN DOLLAR DROPS AGAINST MOST MAJORS

The Canadian dollar weakened against most major currencies in the Asian session on Wednesday.

The Canadian dollar fell to 1.4972 against the euro, from yesterday's closing value of 1.4947.

Against the U.S. dollar and the yen, the loonie edged down to 1.3642 and 97.86 from yesterday's closing quotes of 1.3626 and 98.14, respectively.

If the loonie extends its downtrend, it is likely to find support around 1.51 against the euro, 1.38 against the greenback and 93.00 against the yen.

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NZ DOLLAR RISES AGAINST MAJORS

The New Zealand dollar strengthened against other major currencies in the Asian session on Thursday.

The NZ dollar rose to 0.6138 against the U.S. dollar and 81.99 against the yen, from yesterday's closing quotes of 0.6116 and 81.76, respectively.

Against the euro, the kiwi advanced to 1.8004 from yesterday's closing value of 1.8043.

Moving away from an early 2-day low of 1.0802 against the Australian dollar, the kiwi edged up to 1.0766.

If the kiwi extends its uptrend, it is likely to find resistance around 0.64 against the greenback, 85.00 against the yen, 1.76 against the euro and 1.06 against the aussie.

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JAPAN RETAIL SALES JUMP 7.2% ON YEAR IN MARCH

The total value of retail sales in Japan was up 7.2 percent on year in March, the Ministry of Economy, Trade and Industry said on Friday - coming in at 14.567 trillion yen.

That exceeded expectations for an increase of 5.8 percent following the 7.3 percent gain in February.

On a seasonally adjusted monthly basis, retail sales added 0.6 percent - slowing from 2.1 percent in the previous month.

For the first quarter of 2023, retail sales gained 2.6 percent on quarter and 6.5 percent on year at 39.781 trillion yen.

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JAPAN MANUFACTURING PMI IMPROVES TO 49.5 IN APRIL - JIBUN

The manufacturing sector in Japan continued to contract in April, albeit at a slower rate, the latest survey from Jibun Bank revealed on Monday with a manufacturing PMI score of 49.5.

That's up from 49.2 in March although it remains beneath the boom-or-bust line of 50 that separates expansion from contraction.

The improvement in the reading came from a slower reduction in total new order inflows. Firms registered a tenth consecutive reduction, but the rate of contraction was the softest since last November. Weak economic conditions domestically and globally reportedly weighed on demand and client confidence, though some firms mentioned that inbound demand had stabilized somewhat.

As such, the rate of reduction in foreign demand for Japanese manufactured goods eased to the slowest for six months. Despite this, production levels at Japanese goods producers in April decreased at a moderate pace that was nonetheless sharper than that in March.

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MALAYSIA MANUFACTURING PMI UNCHANGED IN APRIL - S&P GLOBAL

The manufacturing sector in Malaysia continued to contract in April, at a steady pace, the latest survey from S&P Global revealed on Tuesday with a manufacturing PMI score of 48.8.

That's unchanged from 48.6 in March, and it remains beneath the boom-or-bust line of 50 that separates expansion from contraction.

The latest PMI reading suggested that GDP growth is running at a similar level to that seen in the final quarter of 2022, as well as modest year-on-year improvements in official industrial production data. Manufacturers often noted that demand in the sector remained muted at the start of the second quarter, with some reports of customers reducing the size of their orders.

As a result, total new business moderated for the eighth consecutive month, and to a broadly similar extent to that seen in March. Demand conditions in international markets were more positive, with new export orders up fractionally following a nine-month sequence of softening.

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AMENDED: NZ DOLLAR RISES AGAINST MAJORS

(Earlier story being withdrawn and corrected to say NZ Dollar Rose Against Major currencies)

The New Zealand dollar strengthened against other major currencies in the Asian session on Wednesday.

The NZ dollar rose to nearly a 3-week high of 0.6249 against the U.S. dollar and a 2-day high of 1.0681 against the Australian dollar, from yesterday's closing quotes of 0.6207 and 1.0731, respectively.

Against the euro and the yen, the kiwi edged up to 1.7639 and 85.05 from yesterday's closing quotes of 1.7707 and 84.77, respectively.

If the kiwi extends its uptrend, it is likely to find resistance around 0.64 against the greenback, 1.05 against the aussie, 1.71 against the euro and 87.00 against the yen.

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SINGAPORE PRIVATE SECTOR ACCELERATES IN APRIL - S&P GLOBAL

The private sector in Singapore continued to expand in April, and at a faster pace, the latest survey from S&P Global showed on Thursday with a PMI score of 55.3.

That's up from 52.6 in March, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.

A key driver of the improved headline reading was a sharp and accelerated rise in total new business placed with Singaporean private sector firms. The rate of new order growth was the best seen for five months, and frequently linked to firmer market conditions and improved client spending.

The upturn was also supported by improved foreign demand for Singaporean goods and services, with new export business rising modestly after a solid decline in March. Firmer customer demand and rising amounts of new work drove a further increase in output, with the pace of expansion quickening to a six-month high. The rate of growth was also comfortably above the series long-run average.

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AUSTRALIA HOME LOAN DATA DUE ON FRIDAY

Australia will on Friday release March figures for home loans, highlighting a modest day for Asia-Pacific economic activity. Loans are expected to slip 1.0 percent after shedding 1.2 percent in February.

Singapore will provide March figures for retail sales, with analysts expecting a fall of 0.1 percent on month and a gain of 6.0 percent on year after rising 3.9 percent on month and 12.7 percent on year in February.

Taiwan will release April data for consumer prices; in March, inflation was up 0.27 percent on month and 2.35 percent on year.

China will see April results for the services PMI from Caixin, with forecasts suggesting a score of 57.3, down from 57.8 in March.

Indonesia will provide Q1 numbers for gross domestic product, with forecasts calling for a decline of 1.0 percent on quarter and an increase of 4.95 percent on year. That follows gains of 0.36 percent on quarter and 5.01 percent on year in the three months prior.

Finally, the markets in Japan and South Korea are closed on Friday for Children's Day, while Thailand remains closed for Coronation Day.

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EUROPEAN ECONOMIC NEWS PREVIEW: GERMANY INDUSTRIAL OUTPUT DATA DUE

Industrial production from Germany and investor confidence from the euro area are the top economic news due on Monday.

At 2.00 am ET, Destatis is scheduled to issue Germany's industrial output for March. Economists forecast industrial production to fall 1.3 percent on a monthly basis, following a 2 percent rise in February.

In the meantime, foreign trade data from Finland and manufacturing output from Denmark are due.

At 4.30 am ET, Eurozone Sentix investor confidence survey results are due. The economic sentiment index is expected to improve to -8.0 in May from -8.7 in April.

At 5.00 am ET, foreign trade figures are due from Greece.

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POUND SLIDES AGAINST MOST MAJORS

The British pound weakened against most major currencies in the Asian session on Tuesday.

The pound dropped to a 4-day low of 1.1207 against the Swiss franc, from yesterday's closing value of 1.1221.

Against the U.S. dollar and the yen, the pound slipped to 4-day lows of 1.2604 and 170.14 from yesterday's closing quotes of 1.2617 and 170.42, respectively.

If the pound extends its downtrend, it is likely to find support around 1.09 against the franc, 1.22 against the greenback and 164.00 against the yen.

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DUTCH INDUSTRIAL PRODUCTION CONTRACTS 4%

The Netherlands' industrial output decreased for the third straight month in March, largely due to a sharp fall in chemical output, figures from the Central Bureau of Statistics showed on Wednesday.

Industrial production fell 4.0 percent year-on-year in March, after a 2.3 percent decline in February.

Although total manufacturing output contracted, about half of all business classes produced more in March than in the same month a year earlier, the agency said.

The chemical industry had the largest negative contribution of 17.6 percent, followed by rubber and plastic with a 9.5 percent fall.

On the other hand, the transport equipment industry experienced the highest growth, rising by 12.9 percent yearly in March.

On a monthly basis, industrial production decreased a seasonally and working-day adjusted 2.0 percent in March.

Entrepreneurs in the manufacturing industry were less positive in April, as they were less upbeat about the order book and the expected activity.

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CHINA CPI SLIPS 0.1% ON MONTH IN APRIL

Overall consumer prices in China were down 0.1 percent on month in April, the National Bureau of Statistics said on Thursday.

That missed expectations for a flat reading following the 0.3 percent decline in March.

On a yearly basis, inflation rose 0.1 percent - also shy of forecasts for an increase of 0.4 percent and slowing from 0.7 percent in the previous month.

The bureau also said that producer prices dropped 3.6 percent on year versus expectations for a decline of 3.2 percent following the 2.5 percent contraction a month earlier.

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JAPAN M2 MONEY STOCK CLIMBS 2.5% ON YEAR IN APRIL

The M2 money stock in Japan was up 2.5 percent on year in April, the Bank of Japan said on Friday - coming in at 1,232.4 trillion yen.

That was in line with expectations and unchanged from the March reading following a downward revision from 2.6 percent.

The M3 money stock was up an annual 2.1 percent to 1,580.3 trillion yen, steady from the March reading.

The L money stock jumped 3.0 percent on year to 2,112.2 trillion yen, easing from 3.8 percent in the previous month.

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YEN DROPS AGAINST MAJORS

The Japanese yen weakened against other major currencies in the Asian session on Monday.

The yen fell to nearly a 2-week low of 136.12 against the U.S. dollar and a 4-day low of 169.65 against the pound, from Friday's closing quotes of 135.74 and 168.93, respectively. Against the euro and the Swiss franc, the yen dropped to 5-day lows of 147.85 and 151.62 from last week's closing quotes of 147.27 and 151.04, respectively.

Against the Australia and the Canadian dollars, the yen slipped to 4-day lows of 90.63 and 100.38 from Friday's closing quotes of 90.08 and 100.09, respectively.

The yen edged down to 84.52 against the NZ dollar, from last week's closing value of 83.97.

If the yen extends its downtrend, it is likely to find support around 137.00 against the greenback, 173.00 against the pound, 152.00 against the euro, 154.00 against the franc, 93.00 against the aussie, 102.00 against the loonie and 86.00 against the kiwi.

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