Nikkei, CSI 300 gain; BOJ meeting; strong China data

Shares of Japanese automakers Honda and Nissan climbed on Monday after the rivals signed a memorandum of understanding related to the electric-vehicle market.

Honda was up 2.64%, while Nissan shares had climbed 4.81% by 10.56 a.m. Tokyo time.

The MOU aims to “begin a feasibility study of a strategic partnership in the fields of vehicle electrification and intelligence,” according to the announcement.

“Emerging players are very aggressive and are making inroads at incredible speed,” Nissan CEO Makoto Uchida told a press briefing, according to a Reuters report.

“We cannot win the competition as long as we stick to conventional wisdom and a traditional approach,” he added.

Singapore’s non-oil domestic exports fell 0.1% year over year in February, according to official data.

Singapore NODX fell compared with Reuters poll expectations of a 4.7% rise in February.

“NODX declined over the year, mainly due to non-electronics [food preparations, specialty chemicals & electrical circuit apparatus],” the statement read, whereas electronics exports grew.

The reading follows a 16.7% rise in January.

— Shreyashi Sanyal

In the next decade, companies using technology to disrupt sectors will likely be favored, according to UBS.

The “next big thing” in tech will come from sectors such as enabling tech — which includes artificial intelligence and cybersecurity — as well as healthtech, greentech and fintech, UBS said.

“Collectively, we see industry leaders for 2030 emerging from these sectors,” said UBS in a March 14 report.

Here are some names from UBS’ list and what it says about each stock. All are U.S.-listed.

CNBC Pro subscribers can read more here.

— Weizhen Tan

While chip darling Nvidia has grabbed headlines for its impressive stock performance, driven by excitement around artificial intelligence, an under-the-radar European company has quietly seen its shares nearly double in 2024.

The small-cap firm, with sales totaling 52 million euros ($56 million) in the first half of last year, recently bagged a €300 million contract. It also just had its 150 patents valued at $835 million.

CNBC Pro subscribers can read more here.

— Ganesh Rao

Crude oil futures fell slightly Friday but gained for the week after rising in the two previous sessions.

The West Texas Intermediate contract for April fell 22 cents, or 0.27%, to settle at $81.04 a barrel. The Brent contract for May lost 8 cents, or 0.09%, to settle at $85.34 a barrel.

U.S. crude and the global benchmark are up more than 3.5% week to date so far.

— Spencer Kimball

Consumer sentiment was little changed in March though it was slightly below what Wall Street had expected, according to a closely watched University of Michigan survey released Friday.

The Survey of Consumers posted a reading of 76.5, down 0.4 points from February and missing the Dow Jones consensus estimate for 77.4.

Inflation expectations were unchanged at both the one- and five-year horizons, at 3% and 2.9% respectively. The current conditions index also was unchanged at 79.4.

“After strong gains between November 2023 and January 2024, consumer views have stabilized into a holding pattern; consumers perceived few signals that the economy is currently improving or deteriorating,” said Joanne Hsu, the survey’s director. Hsu added that consumers are “withholding judgment” until the November presidential election.

—Jeff Cox

Cryptocurrency holders on the east coast woke up to a lot of red on their screens on Friday.

Bitcoin was trading above $72,000 late Thursday night, but suffered a steep drop and is now hovering near $67,000. That is a decline of about 7%.

It was not immediately clear what sparked the selloff. Crypto.com CEO Kris Marszalek told CNBC’s “Squawk Box” that the selling pressure was likely coming from the options market.

— Jesse Pound