Hong Kong stocks and New Zealand dollar both rise

Hong Kong stocks rose to their highest level in three years, leading gains across Asia on Tuesday. Investors are optimistic about China's economy, thanks to encouraging recent data and plans to boost consumer spending. The Hang Seng Index increased by 2% in morning trading, marking a 23% gain for the year—more than any other major market. The New Zealand dollar also saw a rise, reaching a three-month high of $0.5827. This currency is closely linked to China's economy due to food exports. The Australian dollar rose to nearly $0.64, while China's yuan remained strong. Recent announcements from China included child care subsidies and measures to enhance domestic consumption. Meanwhile, the OECD warned that U.S. President Donald Trump's tariffs could slow growth in Canada, Mexico, and the U.S. However, China might benefit as investors look for opportunities outside the U.S. market. "Momentum and sentiment are shifting positively," said Nick Ferres, an investment expert. Mainland Chinese shares had more modest gains, while the overall Asia-Pacific market climbed 1%. In Japan, the Nikkei index rose by 1.5%, its best performance in three weeks. U.S. stock markets stabilized, but the mood remains cautious, especially ahead of potential new tariffs in April. Gold prices hit a record high of $3,005 an ounce in early Asian trading. The euro remained strong above $1.09, and the British pound hovered just below $1.30. Investors are now focused on upcoming economic reports from Germany and the Federal Reserve's meeting, as well as a phone call between Trump and Russian President Vladimir Putin regarding the Ukraine conflict. This conversation may impact European gas prices and the euro's strength.