RBA raises interest rates, causing mixed reactions in markets.

The Reserve Bank of Australia unexpectedly raised its cash rate by 25 basis points to 3.85%, citing high inflation, while most Asia-Pacific markets were mixed. HSBC reported a pre-tax profit of $13 billion in Q1, while DBS Group Holdings reported a record revenue and net profit for the same period. Private surveys showed that factory activity across five Asean countries mostly rose in April, with Thailand leading gains. The US ISM Manufacturing PMI came in at 47.1% in April, higher than March's figure, but still indicating contraction for the sixth straight month.