Article:
Asia-Pacific markets saw mostly positive movements on Tuesday, following the upward momentum from Wall Street overnight. Investors carefully assessed the factory activity figures from China, which showed a slower pace of expansion in April. The yen's volatility also grabbed attention as reports emerged of Japanese authorities intervening to support the currency.

In Japan, the Nikkei 225 climbed 1.24% to 38,405.66 as traders returned from a public holiday, while the broader Topix index rose over 2% to 2,743.17. Japan's retail sales in March rose at a slower pace than expected, and unemployment figures came in slightly above expectations.

China's official purchasing managers' index for April stood at 50.4, beating Reuters estimates of 50.3. Although it indicated expansion, the reading was lower compared to the 50.8 recorded in March. Furthermore, China's non-manufacturing PMI slowed to 51.2 from 53.0, and the composite PMI for April declined to 51.7 from 52.7.

Meanwhile, South Korea's Kospi index edged up by 0.17% to 2,692.06, while the smaller-cap Kosdaq index ended marginally lower at 868.93. The country witnessed a decline in industrial production, which fell by 3.2% in March, marking the sharpest fall since December 2022 and missing expectations of a 0.6% increase.

In Australia, the S&P/ASX 200 rose by 0.35% to close at 7,664.1, buoyed by positive sentiment from Wall Street. Last night, all three major U.S. indexes closed higher, led by Tesla's impressive performance.

Volatility in the yen caught attention as The Wall Street Journal reported that Japanese authorities had intervened to prop up the currency. This intervention reportedly involved selling U.S. dollars and buying yen. Japan's top currency diplomat Masato Kanda declined to comment on the matter, but highlighted that authorities were prepared to address foreign exchange matters around the clock.

Looking ahead, equities are predicted to have a positive week, with Bank of America indicating that the manufacturing recession may have ended and strong job growth is expected. Furthermore, Goldman Sachs suggested that shareholder returns are set to reach an all-time high, highlighting the attractiveness of dividends and buybacks.

In summary, Asia-Pacific markets largely followed Wall Street's trajectory, with positive movements driven by strong corporate earnings and a Federal Reserve meeting on investors' radar. While factory activity figures from China showed a slower pace of expansion, the intervention in the yen by Japanese authorities added to market volatility.