Taipei, Taiwan – Foxconn, the iPhone manufacturer, experienced a substantial increase in shares after reporting a significant rise in revenue for the month of April. The company, known as Hon Hai Precision Industry in Taiwan, saw a 19.03% year-on-year surge in revenue, reaching 510.9 billion New Taiwan dollars ($15.83 billion) compared to March’s NT$447.54 billion. This spike in revenue was attributed to strong growth in the company’s component business, cloud and networking products, as well as significant revenue growth in smart consumer electronics and computing products.

In another economic development, the Japanese yen is expected to encounter resistance against the U.S. dollar at the 150 level, according to SMBC economist Ryota Abe. Despite suspected interventions by Japanese authorities to strengthen the yen, it is speculated that they are unlikely to intervene further unless the currency weakens again. The rate differential between the U.S. and Japan will likely remain unchanged as long as both central banks maintain their current monetary policies.

Moving to China, a private survey revealed that the expansion in the country’s services activity slightly slowed in April compared to March. The Caixin/S&P Global services purchasing managers’ index showed a reading of 52.5 in April, down from 52.7 in March. Despite the slight decrease, the growth remained solid for the 16th consecutive month, indicating a sustained positive trend in the services sector.

Meanwhile, in Hong Kong, the private sector experienced a slower pace of expansion in April, with the purchasing managers’ index dropping to 50.6 from the previous month’s 50.9. This decline in business activity raised concerns about the sustainability of growth, particularly with indicators pointing towards potential softening conditions.

In a surprising turn of events, Warren Buffett disclosed that Berkshire Hathaway completely eliminated its exposure to Paramount, experiencing a loss in the process. The conglomerate initially purchased a stake in Paramount back in 2022, but due to various challenges faced by the media company, including a dividend cut, earnings miss, and CEO exit, Berkshire Hathaway decided to sell its entire stake, resulting in a significant financial loss.

Lastly, U.S. stock futures showed a slight increase on Sunday evening, with Dow Jones Industrial Average futures rising 55 points, or 0.1%, and S&P 500 and Nasdaq-100 futures each adding 0.2%. This positive trend in stock futures sets a hopeful tone for the upcoming trading day.