Category Archive

Lim Hui Jie

Key Points

• Tokyo’s headline inflation slowed slightly to 2.2% in July from 2.3% in May, while its core inflation rate — which strips out prices of fresh food — remained unchanged at 2.2%, in line with expectations.
• The U.S. personal core expenditure index reading for June, the Federal Reserve’s preferred inflation gauge, will be released late Friday.

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Lim Hui Jie

Key Points

• China’s central bank cut the medium-term facility lending rate to 2.3% from 2.5%, in its latest move to stimulate the economy after lowering its loan prime rates on Monday.
• South Korea’s GDP grew 2.3% year on year, lower than the 2.5% expected by economists polled by Reuters. On a quarter on quarter basis, the country’s economy shrank 0.2%, compared to a 0.1% rise expected

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Lim Hui Jie

KEY POINTS

• Australia saw its private sector activity expand at a slower pace in July, with the composite purchasing managers index at 50.2 compared to 50.7 in June, according to Juno Bank.
• The region will also look for any spillover to tech and EV stocks after U.S. tech giants Alphabet and Tesla reported their second quarter earnings, with Tesla falling short of estimates.

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Lee Ying Shan@IN/YING-SHAN-LEE@LEEYINGSHAN

KEY POINTS

• India is slated to unveil its first budget under Prime Minister Narendra Modi’s third five-year term.
• Traders in Asia will also watch out for Singapore’s inflation data for June.

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Lim Hui Jie

KEY POINTS

• U.S. President Joe Biden announced his withdrawal from the 2024 presidential race, endorsing Vice President Kamala Harris.=
• Traders return to the markets after machines running Microsoft’s Windows operating system crashed Friday due to a glitch in an update issued by cybersecurity company CrowdStrike. Shares of CrowdStrike plunged 11% on Friday.
• China’s loan prime rate will be releases later in the day, with the one- and five-year LPR expected to be unchanged, according to economists polled by Reuters.

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Lim Hui Jie

KEY POINTS

• Investors assessed Japan’s inflation numbers for June for clues on the Bank of Japan’s potential moves at its monetary policy meeting on July 30 and 31.
• The country’s headline inflation was unchanged from May at 2.8%, while core inflation, which strips out prices of fresh food, accelerated to 2.6%, from 2.5% in May.

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Charmaine Jacob@IN/CHARMAINEMARIAJACOB@CHARMAINEMJACOB

KEY POINTS

• The tech-heavy Nasdaq Composite fell 2.8% overnight, posting its worst day since December 2022.
• Japan’s trade balance reversed from 1.2 trillion yen deficit in May, or $7.7 billion, to a 224 billion yen surplus.

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Charmaine Jacob@IN/CHARMAINEMARIAJACOB@CHARMAINEMJACOB & Lim Hui Jie

KEY POINTS

• The Reuters Tankan survey showed an increase in business optimism among large Japanese manufacturers, while confidence among non-manufacturers fell.

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Charmaine Jacob@IN/CHARMAINEMARIAJACOB@CHARMAINEMJACOB

KEY POINTS

• Asia-Pacific markets were mixed on Tuesday following a slew of political and economic news from the U.S.
• Traders will also look for developments from China’s Third Plenum, where high local government debt levels and a push for advanced manufacturing will be on the agenda.

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Lim Hui Jie

KEY POINTS

• David Roche, president of Quantum Strategy, said in a note on Sunday that Trump would win the presidency, with an increased probability of a Republican clean sweep of both the House of Representatives and the Senate.
• China’s economy grew 4.7% in the second quarter, missing expectations of a 5.1% expansion forecast by Reuters and lower than the 5.3% growth seen in the first quarter.

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