Hong Kong chip stocks fell, with Hua Hong Semiconductor (01347.HK) falling by more than 5%, Semiconductor Manufacturing International Corporation (00981.HK) falling by 3.8%, Innosec (02577.HK) falling by 2.5%, and Biren Technology (06082.HK) falling by 2.4%.

Yuichiro Tamaki, leader of Japan’s opposition National Democratic Party: He will determine whether a consumption tax reduction is necessary after the results of spring wage negotiations are released.

Yuichiro Tamaki, leader of Japan's opposition National Democratic Party: If real wage growth can be achieved, there is no need to lower the consumption tax. We are currently paying close attention to the development of the situation.

Yuichiro Tamaki, leader of Japan’s opposition National Democratic Party: When there is a gap between supply and demand, cutting the consumption tax can stimulate the economy.

Japan’s 30-year government bond yield rose to 3.700%, a record high.

New consumer concept stocks in Hong Kong stocks have rebounded. Shanghai Auntie (02589.HK) once rose by more than 10% during the session, Bubble Mart (09992.HK) rose by 10.2%, Bruco (00325.HK) rose by more than 7%, Gu Ming (01364.HK) and Guquan (02517.HK) rose by nearly 5%, and Mixue Group (02097.HK) rose by more than 4%.