Asia markets fall with focus on electric car makers’ stocks

China’s service sector activity expanded at its fastest pace since December, according to surveys by Caixin.

China’s services PMI rose to 52.7 in March, compared to 52.5 in February. This also marks the 15th consecutive month of expansion in this sector.

The report noted that this was due to a rise in new business in the sector, with anecdotal evidence revealing that “improvements in underlying demand conditions and business development efforts helped fuel the increase in new business.”

– Lim Hui Ji

Shares of Fast Retailing fell to a two-week low, falling more than 4%, after the company revealed that same-store sales at Uniqlo stores in Japan fell in March. The company is the largest component of the Nikkei 225 index.

The company saw five stores open in March locally, but eight stores closed.

Same-store sales, including online sales, fell 1.5% year over year, while total sales in March rose 1%.

Fast Retailing explained that the sales contraction was due to sales of spring items struggling to gain traction, due to “persistent cold weather throughout the month”. [in Japan]”.

From the GameStop frenzy of 2021 to the recent surge in Reddit and Truth Social stocks, many investors likely have a fear of missing out (FOMO) on these seemingly lucrative opportunities.

However, for investors who cannot bear the risks associated with meme stocks, there are less volatile ways to profit from the trading phenomenon, the investor says. According to Hannah Gooch-Peters, global equity investment analyst at Sanlam Investments.

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– Ganesh Rao

Many investors have been looking favorably on Japanese stocks in the past few months – and market strategist Matt Orton is no exception.

“Japan overall has been a great market…Japan has been the best performer within the Asian stock market complex,” chief market strategist at asset manager Raymond James Asset Management told CNBC’s “Squawk Box Asia” on April 1.

His lesser-known name stands out as a good play right now.

CNBC Pro subscribers can read more here.

– Amala Balakrishner

San Francisco Federal Reserve President Mary Daly said Tuesday that she still expects three interest rate cuts this year, although that is not certain.

“I think that’s a very reasonable baseline but I would say here that this is just an expectation, right?” Daly said during a panel discussion in Las Vegas. “Three interest rate cuts are expectations, expectations are not a promise.”

Daly, a voter this year on the Federal Open Market Committee that sets interest rates, also indicated she was not swayed either way by a report released Monday that showed the manufacturing sector expanded in March for the first time in 16 months. Instead, she said she and her fellow policymakers look at a broad range of indicators.

“There is a path in my mind where interest rates start to adjust this year. But we’re not there yet,” she said.

– Jeff Cox